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You guys might be laughing at her because she's female or Southern, but believe me the rest of the world is laughing because she's American.
We're laughing at her because she reminds us of your President. We're laughing because of all the times Americans have said something really dumb to us ("Gee, you speak good English for an Australian. Where did you learn?") We're laughing because beauty pageants are such a silly part of US culture. We're laughing because it reflects our general bewilderment that the richest nation in the history of the world has such a flawed education system.
The USA is simultaneously the smartest and the stupidest country on the planet. It's an amazing paradox. I love everything great about it, but I also really love a chance to laugh at what isn't so great.