Gwyneth Paltrow Mocks Taylor Swift

Gwyneth Paltrow Mocks Taylor Swift

Count Gwyneth Patrlow on Team Jake.

Weeks after news broke that Paltrow's pal Jake Gyllenhaal, 30, had dumped Taylor Swift after two months of dating, the Country Strong star, 38, parodied the singer, 21, during her Saturday Night Live hosting gig.

In the skit (see clip above), Paltrow as the 5-foot-11 Swift performs at a bar mitzvah and jokes that she's "a foot taller than the tallest man here."  She then proceeds to play her hit "You Belong With Me" with "a bar-mitzvah twist," changing the famed chorus to "She's just a J-A-P -- not like Japanese!"

An insider tells the new issue of Us Weekly that Paltrow was shocked when she heard of Gyllenhaal and Swift's split.

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Says the source of the actress, who hosted a dinner for the twosome at her London home November 13, "She laughed and said, 'Well, that was a waste of time!'"