Parody is used as a caricature or satire of pre-existing material like a book, movie, historical or news event, and reworks it into a farce, by replaying the materials with comic interpretations. Other terms for parody are spoof, lampoon, burlesque or takeoff. Parody is common in comedy, particularly TV sitcoms, where it's used to satirize daily life and social norms. It's also used as social comment in other forms of comedy, where political or topical statements are redesigned into satire.
Examples of Parody:
|The movie Casino Royale: Parody of James Bond movies|
Austin Powers movies: Parody of 60s cultural motifs