I used to have a "friend" who was my "best friend" since 3rd grade. She was a horrible friend. She used to tell me I was fat (when I was very thin as a kid.) And that I was ugly. If I told her I liked a boy, she would then flirt with him and get him to like her over me. And she used to do dumb stuff like you're describing. And yes, I had bipolar (although didn't know it) and was depressed a lot, or whatever. But she had issues and was toxic for me.

So, I would say that it would be a good idea to make a list of any type of this toxic behavior between her and you before deciding to reconcile. Old friends are important, but only if they are not toxic.