Twitter before Musk banned Babylon Bee, a Christian version of The Onion, for this:

"The Babylon Bee, was suspended by Twitter, after it had mockingly awarded transgender government official Rachel Levine the title 'Man of the Year.'"

This is the type of speech that Elon believes should be allowed, and I agree. He has repeatedly said freedom of speech absolutism is still subject to laws, and inciting violence past that line, but clearly not transgender satire.