The article is devoted to the interethnic relations in a multicultural environment through self-identification and perception of other ethnic groups, and the reflection of these relations in language in the form of stereotypes, personifications and nationality words. The authors focus their attention on the history of the issue of linguistic and psychological reality interaction within culture; observe some stereotypes of the English-speaking world exemplify the perception of the British and Americans by themselves and each other; introduce national and cultural peculiarities of ethnic stereotypes in the English-speaking world; give examples of modern search for possible ethno-psycholinguistic ways of settling ethnic conflicts.