No, we used it at Whitefish Bay when I was in high school, and that was in the early 60s.
The most insulting "cheer" I ever heard was by students at a prestigious private school in the area. If their team was losing (football or basketball) some students would chant near the end of the game, "That's all right. That's o.k. You're going to work for us some day." Eventually the administration clamped down on the chant.
That was used at MUHS too. The most insulting one I ever heard was in hoops towards an opponents star player....
Mark Moore - Mark Moore - What's your SAT score?
"When March Madness spills into April.... that's the gravy!" - Homer Simpson
Yes indeed - that one was thrown at us at every single game. H-O-M-O Homo High.
"When March Madness spills into April.... that's the gravy!" - Homer Simpson