One of the largest sets of collective excitations built on two-quasiparticle configurations in odd-odd nuclei of the proton-rich A approximate to 120 mass region is reported in Cs-118. Several new rotational bands and long-lived isomers have been identified. The 8(+) bandhead of the pi h(11/2) (R) nu h(11/2) band is a short-lived isomer with a half-life in the nanosecond range, while the 7(+) state below it is a long-lived isomer with a half-life of T-1/2 = 0.55(6) mu s. Two other long-lived isomers have been identified: a 66-keV transition detected at the MARA focal plane depopulates one of them, indicating a half-life in the microsecond range, while no depopulating transitions have been identified for the other, indicating a much longer half-life. Extensive particle number conserving cranked shell model calculations and alignment analysis have been employed to investigate the rich band structure of Cs-118, which exhibits one of the most complete sets of two-quasiparticle configurations in nuclei close to the proton drip line.