I answered this on the blog comment you made too, hopefully it will get readership in both places:
This is not a bad question. I would like to make several points here, and hope a woman commenter chimes in with first-hand perspective too.
First of all, the "guys joking and jabbing each other" thing is true. But it really isn't that simple of a social interaction. At the early "getting to know each other" stages, the punches are pulled a LOT, and the pairwise bits of acceptable jokes are slowly teased out. Each member of the group must be felt out for OK and Bad joke topics etc. Think about every male bonding comedy (or drama with comic relief) you've ever seen. The new guy is paling around with the group, and suddenly he makes fun of the dog, or the tattoo or someone's mom, suddenly the whole group is quiet and serious, and "oh you just don't go there, never make fun of gary's poodle". There are rules and boundaries to it, even in "everything goes" atmospheres. (exceptions being douche-fests like Jersey Shore... and look how those turn out)
Second, there is a lot of difference commonly found between the jokes towards majority "one of the guys" and women or minority "one of the guys". Sure, its funny for a core group member to yet again make a joke about how Isaac can't be trusted because he's a mexican thief, if a new person said that, s/he would be reamed for making that comment -- the trust of "just a joke" is an earned one. Same goes for "katie is just looking for a guy with that top" jokes. And sometimes, they would never ever be allowed, because the person joking is NOT cool with it, and that is OK. addition from original comment: And the only way the jokes are ever ok, is if the target owns that joke as a funny, not hurtful statement. Some people see humor in situations where they are fitting some mockable stereotype, or where they are see themselves in such contrast with the stereotype (and know the mocker also sees this and doesn't buy the stereotype anyway). If the target doesn't see it as humorous, it stops being a bonding jab, and starts being hurtful
Third, the contents of the jokes should mostly be neutral. I'm pretty sure Katie would be ok if you poked about the time she brought the server down. But, if you follow it with "thats why girls should stay off servers" it changes it, because you would never poke al with "thats why boys should not code". Again, it is the subtlety of bringing the extra factor into play that wouldn't otherwise be noted in "one of the guys" (e.g. gender, race, sexuality etc). I don't know katie, but my workplace jokes follow this pattern