I'll start by saying that this:
https://www.theatlantic.com/ideas/archive/2019/01/covington-overcorrection/580987/
Is the best article I've read on the entire debacle and I think everyone should read it.
Now, as for my version:
The initial tweet was framed disingenuously in order to create drama. That is factual, the twitter account was banned after it came out they were a fake news account.
The initial reaction was to a few pictures and a short video, my reaction was the same as many "these racists pricks accosted and surrounded a peacefully protesting native american man and racially mocked him".
Then more video came out showing that Nathan Philips actually inserted himself into the group of racist kids in an attempt to stop some imagined confrontation between the racist kids and a group of homophobic bigoted Black Israelites. The mocking by some was racially charged, but some were just dancing along to the chanting which may be disrespectful but not racist, while others were just standing there dumbfounded by the entire situation.
Sandmann himself is likely a racist little privileged prick of a kid... but the incident does not reflect that, nor does the confrontation between him and Nathan Philips represent harassment or racial mocking.
In the end, this "confrontation" is mostly nothing, blow completely out of proportion by a twitter culture that craves drama and by over-correcting celebrities and news organizations.