Indeed.
I saw a short film about a black kid who was called OMO. He got the name from being caught trying to 'wash himself white' with OMO washing powder.
It's fair to say the poor kid had some problems, which were not helped by his peers calling him OMO! However, when I viewed the prog (aged around 12) I knew if I had known him for real I wouldn't be calling him OMO.... he said over and over that he didn't like it.
Equaly, I
did call my mate a golly wog, he didn't realy mind tho, the same as him calling me vanila. Fortunatly for me, Vanila Ice was still just a kid
:p
[Edit] Something that just occured to me... Ian Huntly is a 'white' man, Nelson Mandella is a 'black' man. I wonder what a racist would make of that. I'm sure there are many many more similar comparisons, I just picked this one as it seemed most 'current'.