First just wanted to say that I think there is a difference between teasing and bullying, where trading is good hearted fun amongst friends and no one gets hurt. Bullying is a serious form of teasing, though I hate to put them under the same category.
I've had both. My family likes to tease me and I tease back. Mostly about being small.. But also about random things that happen and are then forgotten.
I've been bullied as well, all through primary and high school. Mostly verbal stuff but it was still pretty bad.