If someone teases you should you laugh it off or be serious?

If someone teases you should you laugh it off or be serious?
Somewhere I read that a woman should keep it serious whenever someone lightly insults them (whether playfully or not playfully) and wear a straight face instead of laughing along with it / playing it off.

I definitely think this will gain the person more respect but I'm not sure whether one will come off as sexy-confident or too serious. On a scale of self-deprecating (1) to self-assured (10), how confident do you like your mate to be? Also how tolerant do you like them to be?

Real-life example: I had poofy hair at some point in my life and one of my male friends joked about turning me upside-down and using me as a mop. I laughed and playfully hit him. How should I have reacted?
Laugh it off
Keep a straight-face / be serious
Other (explain in comments)
Select gender and age to cast your vote:
If someone teases you should you laugh it off or be serious?
Post Opinion