Persiflage is a teasing kind of banter. After a softball batter strikes out, she can expect to hear some persiflage from her teammates in the dugout.
You and a friend might have a joking relationship full of persiflage, or a joking way of gently mocking each other. You can also call any kind of lighthearted talk persiflage — like dinner party small talk. The term was particularly popular in 19th century literature, and its origin traces back to the Latin word for "hiss," sibilare. From that came the French word siffler, "to whistle or hiss," persifler, "banter," and finally persiflage.