Former WWE Authority figureJohn Laurinaitis seemed to make it fit to refer to himself (and have everyone call him) as "Mr. John Laurinaitis, Executive Vice President of Talent Relations and Interim General Manager of Monday Night Raw." Later it became "General Manager of both Raw and Smackdown".
Similar to, and possibly the inspiration for, the Grinch movie example above, is wrestler "Rowdy" Roddy Piper. Piper is legitimately of Scottish descent, and often wears a traditional kilt to the ring. Of course, his opponent will invariably comment about how he doesn't want to wrestle someone in a "skirt". Piper's response: "It's not a skirt, it's a kilt!", followed by some serious pummeling.
The apex of this came at the 1992 Royal Rumble, where "broadcast journalist" Bobby "The Brain" Heenan was openly rooting for Ric Flair and mocking Piper at every turn, until Piper saved Flair from an attack.
Heenan: It's a kilt. It's not a skirt, it's a kilt! (30 seconds later, Piper attacks Flair) Heenan: YOU SKIRT-WEARING FREAK! It's not a kilt, it's a skirt!
Within WWE, the people who wrestle are not "wrestlers", they're "superstars", and female wrestlers are called "divas". And the titles they wrestle for are not "belts", they're "championships". Nor are "wrestling fans" called such; they're the "WWE Universe". Also, it's not even called pro-wrestling anymore, it's "sports entertainment"... or at least, it was. "Sports" has been put in the banned list too, so now it's just "entertainment" or "action soap opera". And they don't even have "athletes" or "sportsmen", but "entertainers with tremendous athletic prowess". Vince McMahon doesn't seem to like to be reminded that he runs a professional wrestling company.
This has led to a fun game of Loophole Abuse with rival company TNA. A few TNA fansites have begun to claim that TNA is now the number one wrestling company in the world, since WWE is fighting the world "wrestling" at every turn.
Over the past decade or so, anyone whose seen to be particularly rebellious or anti-establishment within WWE (ex: Joey Styles, Chris Jericho, CM Punk) will make fun of the term "sports entertainment", boldly emphasize "wrestling", or simply do both. Interestingly, many of these people have some significant connection to ECW.
Newsletters (such as The Wrestling Observer Newsletter) are referred to exclusively as "dirtsheets" or "inside trade papers" depending on whether the person is portrayed in a negative or positive light or what information is being reported.
Weapons that aren't supposed to be used in a wrestling match are commonly called "foreign objects". During a period of time in which WCW was trying to present itself as a cleaner and more tolerant alternative to the WWF, these were renamed "international objects" because standards and practices didn't like that use of the word "foreign".
This came about due to a miscommunicated directive to all Turner divisions (most specifically, CNN) to replace speaking instances of the word "foreign" with "international" in a news context. Nobody at WCW thought to get the directive rescinded in their case, and since they were in the middle of a financial downward spiral, it was easier just to go along with it.
The announcers started to do so as a 'take that' to the Directive, feeling it was political correctness run amok.