McCoy's teasing of Spock is racism, because it concerns his race's appearance.
No it's not it's just that teasing. McCoy only teased Spock, never made rants about Vulcans in general or said anything negative about other Vulcans he met.
McCoy calling Spock a pointy eared freak or whatever is obviously racism. Personally I don't care though, and think McCoy is awesome