Well, shoot, I got all sorts of meanings on my behalf. I'll try to make this interesting.
When I'm playing nice (which is 90% of the time).
If you taunt at the start of the match, I'll do the same. May the best fighter win.
If I SD and you taunt. Fine, f*** it. I'll taunt back. That was a noob move on my part anyway.
If you SD, I won't taunt. Nobody is perfect.
If I throw you across the stage and you missed the ledge trying to make it back, I won't taunt. I'm not going to rub salt in your face.
If you attempt to style a move on me, but fail, I won't taunt.
If you get a good kill and taunt, I'll taunt back. That was pretty awesome.
If I am playing a FG 4 player Smash, and I manage K.O. three of you all at once 5 seconds left of the match and I win, I'm taunting! That was cool, and I've actually had a few peeps who taunt back or compliment me in the lobby!
If you defeat me in a match, and you taunt, well... you deserve to celebrate your victory.
When you decide to be a complete jerk!
I have mix feelings with this, but If I taunt at the start at the match and you hit me, either you're that competitive or you are new to Smash online. Other than that, prepare to lose.
If you double taunt mid-match and you barely took one stock off me, you BETTER win! If you don't, I get bragging rights.
If you have been taunting me throughout the whole match and tried to style me, but fail, I won't taunt back. Instead, I'll save the replay and show it to my friendlies, family, and Sharemode. But be especially grateful that I won't upload your embarrassment on YouTube and Miiverse. I'm not that much of an a** like you.
In FG 4 Player Smash, if you have been milking points off me and you taunt, just to let you know, I was not playing my main. Let me go get him or her next match.
When I am with friendlies.
We cool, right? Taunt all you want! =D
Well, there ya go... Hm..I don't appear to get too worked up when I am taunted. ;/.... Do I?