OUSA administrative vice-president Jarred Griffiths said the result meant it would not be issuing any regulations on what people should wear at future events.
"Obviously, some students had very strong views about [the issue] and submitted questions during the referendum process," Mr Griffiths said.
He accepted it would be a bad look if a lot of students dressed in offensive costumes at next year’s keg party.
However, he felt that most people who voted against the regulations were concerned about freedoms being curtailed rather than actually wanting to dress in offensive costumes.
He did not believe there would be an explosion in numbers of people wearing offensive garb at next year’s keg party.
"So whether or not guidelines or regulations are necessary I think is quite moot, because students are relatively sensible anyway."