With little sensitivity for the city of Baltimore and for its despair over losing the Colts, a few card-shop owners in Indianapolis are selling T-shirts that no one in Baltimore will find funny. In fact, some people in Indianapolis don't appreciate the humor either.

The shirts, which have already received a great deal of attention, bear these words: ''The Indianapolis Orioles.'' And they are creating a minor controversy.

They were certainly a hot item at the Colts' first game ever in their new city, an exhibition victory over the Giants last Saturday night. One fan there, 45-year-old David Rengel, a follower of the Montreal Expos' farm team in Indianapolis, allowed as how his city ''deserved'' the Colts, and added, ''It would be even better if we got the Baltimore Orioles, because then it would be like getting a complete set.''

But other people are not so sure, and their doubts transcend the fact that the Orioles recently signed a new lease on their stadium in Baltimore. The shirts may be all in good fun, but some residents of Indianapolis see in them an abrasive attitude that reflects poorly on their own city.