What is Inside-outside joke?

attempting to explain an inside joke to others, resulting in a loss of humour.

guy #1: "Bitch put some pants on!"

guy #2: "What?"
guy #1: "It's an inside joke. Let me tell you the story."
guy #1: (attempts to explain inside joke)
guy #2: "Keep inside jokes on the inside, please."
guy #1: "Dammit. Inside-outside joke. Sorry about that."

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Inside-outside joke - video