If you guys want to talk about good parodies of reality television the answer would would probably have to be Joe Schmo (and maybe season 2, but I didn't see it). The show takes all the reality show "characters" and plays them up more, but at the same time you get a mix of actual reality because poor Matt didn't know shit was going on until the very end when they told him.
The show was a very successful parody of reality television in concept itself. The "players" are on a show called "Lap of Luxury." WTF is the idea behind this show? It's so many people living in a really rich house. Every week they play a retarded game and one guy wins immunity whlie one of the losers gets voted off. It's brilliant because the idea of Survivor is to survive on an island in a harsh environment for over a month. There is nothing harsh about living in a swank house for a couple weeks. It turns the whole genre on it's ear with the simple premise of it's show. Plus, the improvisational nature of the actors reacting to the "schmo" is great.
Whoever said Drawn Together is just a regular reality show with animated characters is right. There's no parody here. Sure they're overplaying the "characters" but it doesn't come off right. The characters are all animated, so we already expect them to play up certain stereotypes. There's nothing strange about them all acting so fucking crazy. The concept is really great, but their execution sucks so much. The only roll on the floor laughing moment in the entire first episode is the smurf fight, and mostly because it's more the kind of one-off out of nowhere joke Family Guy would make. The rest of Drawn Together is a pile of wasted potential.