Somebodys says "Are you jealous of me?" and you say "What would I be jealous about you?"
Is it okay? Or what would you say?

Question

Somebodys says  "Are you jealous of me?"  and you say "What would I be jealous about you?"
Is it okay?  Or what would you say?

Answer

"Are you jealous of me?"  is correct
and you say;  "What should I be jealous of you?"

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answer - "What about you is there to be jealous of?" Both of Pia's answers work well also.

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*or jealous about ;)

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It should be "What would I be jealous of you for?" We say "jealous of" someone "for" something, for some reason.

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I'd answer "Why would I be jealous of you?"  or "What is there to be jealous about?"

Personally, I would never use your sentence. It doesn't feel right. I even think it is grammatically incorrect (OF instead of ABOUT!). Just - don't use it.