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If...the boys from that minority group didn't find it offensive, what's the problem? Mutual taking-the-piss can work as well as, or sometimes better, than mutual extreme-politeness. Courtesy is always preferred, but having the license to poke each other can mean you don't end up in an emperor's-new-clothes situation. If the minority lads were comfortable enough in their own skin to take shit and not let it affect them, that's hardly a bad thing, is it?

(Fwiw, I regularly make jokes about myself being a slanty-eyed fisheater, so...yeah.)