When you cleverly make fun of something, you satirize it. Political cartoons, for example, satirize current events and politicians using clever drawings and captions.
When a writer criticizes something using humor, she satirizes it. Playwrights and filmmakers often satirize ridiculous social customs by reflecting them in exaggerated ways, for example. Ideally, when an artist satirizes society, she hopes to encourage positive changes by making people feel ashamed or embarrassed. The root of satirize is the noun satire, which in classical Latin meant a kind of poem that "ridiculed vice or folly."