When I lived in Minneapolis, Charlie Maguire was active as an 'artist in the schools.' In his performances he would frequently use parodies he'd learned from the kids as part of his residencies.I moved 15 years ago so I have no idea if he's still doing it, or what he's finding. What I recall is that the general shared culture that the kids were inclined to parody were advertising jingles. I don't recall specifics, but the content of the ones I heard gave great hope to the idea that kids are not completely taken in by all the ads.
How much of this loss of 'kid culture' is due to adult organization of kids free time to keep them safe or out of trouble? When I was a child we played outside with the other neighborhood kids with the adults pretty remote. We also had several kids in almost every house in the neighborhood to supply the crowd.