The comments, made in a 2018 interview with Anika Moa, saw the pair trying to explain why Art Green had darkened his skin for a celebrity costume party in 2015.
"It was more brown face," Art claimed.
"It wasn't full black face and it was also brown body," Matilda said, while Art added: "Actually, technically it was Indian, so would that be yellow face?"
"No, that's Asian!" Matilda and Moa reply.
The pair faced a backlash after the 2015 incident, which saw Matilda comment "Best night with this chocolate-covered treat" on a photo of the smiling couple.
The 2018 interview was shared on TikTok by user Nadia Darby and soon drew Matilda Green's attention.
Addressing the controversy, she said the couple had been "ignorant and young and stupid".
She said it was "so embarrassing" and said that the comments were "jokes", noting that "we all laughed".
"That's the thing about the internet, past mistakes are around forever," Green said.
"I'm just embarrassed and I wish I didn't say it."
The star neglected to apologise when she first addressed the video, but returned shortly afterward to say sorry.
"I realise that I missed the actual apology in my last story. It's not because we're not sorry, I just missed it," she said.
"Art and I are very sorry and the last thing we'd ever want is for anyone to be hurt by anything that we've said."
This is the second time this year that Green has been criticised for a lack of racial sensitivity.
The influencer apologised in June after she was involved in a PR event involving high-profile New Zealand influencers that was widely criticised.
Colgate's "White Night In" event saw several New Zealand influencers take to Instagram dressed in white satin pyjamas to promote Colgate toothpaste.
It occurred at the height of the Black Lives Matter protests.
"It definitely shouldn't have happened."
The influencer also addressed criticism of the "lack of diversity in the guest list".
"I got the full list ahead of the event. I assumed it would be diverse, I didn't even think about it," she said.
"I have definitely learnt from that.
"I need to take responsibility and use my influence to make sure that these guests lists of PR events are diverse because it's important," she added.
