I find more and more often I bump into people who don't really talk, about anything, don't discuss, debate, wonder, they don't say anything interesting, they only talk about famous people in the news, what everyone did the previous night/week when drunk, the story of that time dave got so drunk he pee'd on a policeman, etc, etc, and take the absolute mick out of each other constantly.
I actually met more people in uni who did this than at school, probably because I took a few years our and was with younger people when I did uni.
Theres no point trying to outscore/beat people, theres people whose conversational style is taking the mick out of each other, and people who actually talk about things. I got bored with "friends" who do nothing but drink and act like kids and eventually found a few people who became real friends, who actually seem to have interests beyond who threw up last weekend and how much they drank.
At some stage you'll find people who are more like you lose touch with people you really don't enjoy being around. The one lesson you will learn is, hanging out with people you really don't enjoy hanging around with because they're your "friends" just because you've know them a while, really isn't worth it.
Theres obviously nothing wrong with taking the mick out of a friend, as a joke, now and then, everyone does it, but theres people who just don't do anything but that.
Don't waste time with people you don't really like or get on with, just happen to know or used to be friends with them. You've got one life, don't waste it on people you don't like, be discriminating and brutal, you'll save yourself time and effort being friends with people you don't actually enjoy being around, and might make them grow up a bit and become friends with them again, or they might go on being boring pratts, so be it.