In this paper, I put forward a comparative/contrastive analysis of ethnic identity on the basis of humorous texts about Romanians and Hungarians living in Romania within the framework of the Script-Based Semantic Theory of Humour (SSTH). The corpus contains fifty jokes taken from websites and social media, books and recordings in which the Romanians are at the centre and the Hungarians are the butt and vice versa. The overall purpose of the study is to illustrate the main topics and stereotypes used in ethnic jokes. In this research, I will show that Romanians and Hungarians joke about similar topics, the most common ones being the “ownership” of Transylvania, rejection of the other, and language distortion but also friendship among Hungarians and Romanians. I also conclude that stereotypes can be attributed to one ethnic group, but there are also shared stereotypes, and some of them can switch from one group to the other depending on the perspective.