Do you have it in you to laugh at yourself?

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Life sometimes puts us in difficult situations where we end up looking like a fool. You can't turn your back on it and if you run away from such situations you will loose all your self respect. So at this point of time do you have the guts to laugh at yourself and make a fool out of yourself? It can be a situation when you are with your friends and someone says something about you or you can be in an important meeting (this is my situation) where I was supposed to give an important presentation to my boss and I made a silly error...I had to end up laughing at myself in front of everyone as everyone in the room was making fun of me... If you were in the same situation what would you do? Have you experienced anything like it in your life?