The Prime Minister poked fun at his own thinning locks at the annual Westminster Correspondents dinner held before an audience of journalists.
The event - revived for the first time since 1974 - was held on Thursday and gave Cameron an opportunity to show off his sense of humour and poke some gentle fun at his tormentors in the press.
He used the opportunity to mock his membership of the notorious and exclusive Bullingdon Club, along with London Mayor Boris Johnson and Chancellor George Osborne when they were students at Oxford University, the Daily Express reported.
Surveying the crowd of reporters dressed up in black tie in the grand surroundings of the House of Commons Members' dining room, Cameron said: "The last time I was at a dinner this posh, Boris spent the rest of the night in prison."
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Cameron also recounted a day spent canvassing with the London mayor, when a woman answered their knock on the door with the words: "Boris, you're the father of one of my children."
A moment's horrified flustering by Johnson was ended as she added: "It's your daughter, I'm her maths teacher."
Poking fun at the controversy surrounding his barber, Cameron said, "If you can make cuts and stop recession at the same time, you deserve an honour."
Cameron ended with praise for Britain's tradition of a free and fearless press.
"At its best, the British press and the political press has a vital role to play in our country," Cameron said.