derision: contempt that has gone public, either the disgrace of being laughed at or the scornful talk itself
This is the noun that belongs with the verb for mocking (לָעַג). It does not name a private dislike. It names contempt that has gone public: the jeering of the onlookers, and the humiliation of whoever they are jeering at.
Five of its seven appearances belong to one fixed way of talking about national ruin. A beaten people, or its wrecked land, is handed over as a derision to the nations round about, and the phrase usually arrives with companion words for disgrace (חֶרְפָּה) and scorn (קֶלֶס). The complaint is not that the neighbors think badly of Israel in private. It is that Israel's ruin has become entertainment for everyone watching.
Twice the word turns from the reputation to the mockery itself, and both times it is treated like something a person swallows. In Psalm 123:4 the worshippers have had their fill of the mockery of the comfortable, set beside the contempt (בּוּז) of the proud. In Job 34:7 Elihu asks who else is like Job, a man who "drinks up scorn like water", meaning that Job takes to scornful talk as readily as a thirsty man takes a drink.
One pattern holds across all seven verses: the mocking is always human. The verb of this root can put derisive laughter in God's mouth, as when the LORD laughs at kings who plot against him, but the noun never does. It stays on the human side, naming either the shame people suffer or the scorn people hand out.