We may never know, but...
The first comment at Youtube: Materazzi spoke in Italian - a language understood by Zidane due to his time spent with Juventus F.C. - and first told him: "Hold on, wait, that one's not for a nigger like you." As the players walked forward, Materazzi allegedly said: "We all know you are the son of a terrorist whore." Then, just before the headbutt, he was seen saying: "So just fuck off." According to Brazilian TV Rede Globo, a lip-reader claimed that Materazzi twice called Zidane's sister a prostitute.
You know what? If the above is true, Zidane should have aimed for Materazzi's nose instead of his chest.