Less vulgar synonyms for "circlejerk"

Solution 1:

Perhaps they are members of a mutual admiration society. As ODO puts it:

A coterie of people who flatter one another and promote each other's reputations.

The earliest OED entry is from the December 1845 issue of The Knickerbocker, a monthly New York magazine.

Solution 2:

“Patting each other on the back” would fit the bill. For example:

If you’re finished with this circle jerk, maybe we could move on to new business.

Could be replaced with:

If you’re finished patting each other on the back, maybe we could move on to new business.

Solution 3:

The notion of groupthink is closely related.

Solution 4:

I would describe it as a "mutual appreciation society".