Everyone has experienced teasing at some point in their lives. It can sometimes be a weird feeling in which you want it to end, but also pretend it doesn't bother you as that is what is expected.
Have you every asked why you pretend? If something hurts your feelings why humor the person that is causing you pain? Isn't most teasing based on truth? If so then is it really all in good fun or just a way for others to point out your short comings in blame free way?
I challenge the philosophy that you should simply play along when the teasing is painful for you. I am by no means against light hearted joking between friends that is very loosely (if at all) based on reality. But in a socieity where kids are encouraged to take a joke or laugh at themselves, and bullying is rampant how are we suppposed to know where to draw the lines?
*Just random thoughts from the sensitive child from your elementary school class :)