Yep, this is a better description ~ @ least in Oz. It's not always negative. It can be a joke or a tease.I know @Shadrach and @Marie2020 have both answered already - I would have said it slightly differently. I think it means to mock or make fun of regardless of whether 'being taken advantage of' is part of it.
It can have a negative or positive(ish) connotation depending on context.
A practical joke by a friend is a benign form of 'taking the piss'.