raillery - Definitions from Dictionary.com (etymology):

raillery (RAY-luh-ree) noun

1. Good-natured teasing or ridicule; banter.
2. An instance of bantering or teasing.

Source: The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2000 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.

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n : light teasing repartee [syn: banter, give-and-take, backchat]

Source: WordNet ® 2.0, © 2003 Princeton University