I think it depends to a large degree on how well you know the people you play with - what I usually try to go by is this:
If I don't know the person well, I try to avoid anything but the most inoffensive sort of humor. (that's assuming they don't start making jokes at my expense, which I figure means you're presenting yourself as fair game for similar humor)
If they're my friends, I think pretty much anything goes, as long as it doesn't actually hurt or humiliate someone. (sting and embarass a little is fine
)
Another good rule of thumb is: If you're making jokes at someone's expense, and that person never appears amused, however briefly or reluctantly - then there's a small chance that they're completely devoid of humor / have a completely incompatible sense of humor, but a very significant likelihood that you're being a huge jerk. (or just aren't nearly as funny as you think you are)
If I don't know the person well, I try to avoid anything but the most inoffensive sort of humor. (that's assuming they don't start making jokes at my expense, which I figure means you're presenting yourself as fair game for similar humor)
If they're my friends, I think pretty much anything goes, as long as it doesn't actually hurt or humiliate someone. (sting and embarass a little is fine

Another good rule of thumb is: If you're making jokes at someone's expense, and that person never appears amused, however briefly or reluctantly - then there's a small chance that they're completely devoid of humor / have a completely incompatible sense of humor, but a very significant likelihood that you're being a huge jerk. (or just aren't nearly as funny as you think you are)