When I was a boy - some forty years ago - I was very sensible to teasers. And one of my classmates used it. Not that he thought bad of me, he just wanted to make fun - in his understanding. But I have been offended and tried to chase him (without much luck).
It took years for me to change an attitude, and not last of thing which helped me is Russian proverb I quoted in post title: Though call me a pot, just don't put me in the oven ("Хоть горшком назови, только в печь не ставь"). Now I only smile (yes, sometimes it's a sad smile) when someone calls me names; doesn't matter whether it's teasing or an attempt to offend or insult. I just put "check mark" on his account in memory and correct my opinion about that person.
Words does not mean much. More important what people think about you. And even that irrelevant if they treat you properly. E.g. I am not interested in what think about me waiter in restaurant or bus driver - if they do they job and do not separate people based on skin color, language, religion, gender and so on.
For me it's pretty obvious that best protection against insults is one's own attitude. Of course it's better when nobody is trying to offend other people, however all attempts to ban particular "insulting" words in this case are futile - as long as all efforts are limited to words. Find reason of the phenomenon (in our case - hatred), think about ways to eliminate it - than it may have worked. And till there are people who want to insult you using some "bad" words - do not do what they are expecting of you, do not be insulted, keep culm. Eventually all those words tell more about "offender" than about "insulted".
That's what I think we should teach children to: be smart and strong instead of looking around for signs of insult and hiding in "safe zones".( And couple of thoughts more... )( Для тех, кто не читает по-английски )