A few verses earlier is another proverb, one that mentions shooting arrows. Verse 10 reads:
"Like an archer who wounds at random is he who hires a fool or any
passer-by." (NIV)
Verse 18 links this would-be-joker with a madman shooting firebrands or deadly arrows. He is a fool who wounds at random (at best) or a fool who sets ablaze a conflagration of destruction (at worse). It's only when the destructiveness of his words and actions are felt by others that he tries to wriggle out of his responsibility by claiming it wasn't serious; it wasn't intended; it was only a joke.
Zechariah 12:6 deals with firebrands, showing the destruction they can wreak if set to sheaves of grain or hay. Combining this with Proverbs 26:18-19, it seems clear that the person here is likened to being mad. In other words, even a fool should be able to see the danger of acting so irresponsibly and should avoid it. But a madman will only try to wriggle out of the sport he hoped to enjoy at his neighbour's expense by claiming it was "only" a joke.
The old 'joke' of pulling away a chair that a person is about to sit on is a classic example. That has been done for centuries, and everybody is supposed to laugh, and the victim is expected to take it in good part. But some people have had their coxyx damaged and have spent the rest of their lives in real pain. That could serve as an example of 'sport' that does not involve actual deception. As for sport that involves lies, well, the Bible just condemns all lies, and all liars, full stop. Unrepentant liars will not inherit the Kingdom of God (Revelation 21:8). Whether this means the likes of April Fool lies (where deception is used to trick people into thinking something ridiculous actually happened on 1st April), that is doubtful. Yet why would a Christian want to do that? It's certainly humorous to see a newspaper article that day, with photos alongside a ridiculous claim, to imply this actually happened, but nobody is going to be hurt by that. The joke is not trying to get people to do anything dangerous or that will lose them money etc. It's become a bit of a tradition in many parts of the world, just for that one day.
No, I think the proverb is warning against words and actions that go beyond foolish, to being potentially dangerous, harmful or hurtful to others. Consider the person in a crowded gathering in a large building, who shouts out "Fire!" for a joke. That person is not just a fool, he or she is culpably reprehensible before God and human courts for any stampede that results in terrified people being trampled or even killed.
That, I would suggest, is the sort of thing being condemned in Proverbs 26:18-19. It would be an example at the extreme end, but because milder examples also come into this remit, the wise person would always seek to err on the side of caution by never doing or saying anything that just might harm or deceive another. "Let your yes be yes, and your no, no. Anything beyond that is from the evil one." Jesus warned (Matthew 5:27). That was about making vows, but the principle of being open and honest, meaning what you say, holds good here.