{Side note} Black performers in traveling shows in the late 19th/early 20th century did powder themselves white to mock white people.

I have tintypes of my great-great-grandfather (a Philadelphian) in his mummer's costume and he doesn't appear to have any face-paint on (he's definitely not painted black). The costume itself is very elaborate and I can't imagine that face-paint would have added that much to the overall effect. It certainly doesn't seem worth it to risk ruffling a lot of feathers. If you want disguise, give them some false moustaches and get on with it.