So this whole #CancelColbert thing is stupid…
The Colbert Report is a hyperbolic satire— the character he plays on the show is modeled off conservative commentators (eg Glenn Beck and Bill O’Reilly). The whole point of the Colbert Report is social criticism. The character Colbert plays, as well as the entire show, is meant to be ridiculous in order to create a public discourse — that is the point of a satire.
The “Ching-Chong Ding-Dong Foundation for Sensitivity to Orientals or Whatever" bit was meant ridicule the racism of the Washington Redskins and (especially) Dan Snyder’s Washington Redskins Original Americans Foundation. The audience is supposed to find both “redskin” and “ching-chong ding-dong” racist (that’s the point). And then endeavor to resolve problem. That’s what social criticism is meant to do.
If you want to cancel The Colbert Report over that, then the joke has flown so incredibly far above your head that you must think Jonathon Swift’s A Modest Proposal is a historical non-fiction for economically motivated cannibalism in the 18th century (hint: it’s not).