Seriously, calling him Obama Bin Laden, or Barak HUSSEIN Obama, or referring to an "Obamanation" or "Obamunism" - it's just not as clever as some people seem to think it is. Honestly, it's not clever.
I think Mark Twain once said something along the lines of "Never make fun of a man's name. He's heard it a hundred times before, and each time was funnier than the time you did it." (I paraphrase).
Make fun of the way. he. talks. Or laugh at him for bumping his head on Marine One (hyuk, the President sure is tall! hyuk hyuk). Or, go ahead, make fun of his name - just don't spend too much time complimenting yourself on how clever that is.