Hyperbole is deliberate exaggeration for emotional effect. The addressee is not expected to have a literal understanding of the expression.
The opposite of huperbole, understatement is used to make something appear smaller or less important than it really is. It can be used to entertain or to reduce the importance of the truth.
Ex.: Wait a second!
A periphrase is to speak in a roundabout way instead of a well-known or generally used name of an object, several words or even phrases are used to say it, for example Japan - the country of the rising sun, Michael Jackson - the King of Pop, Margaret Thatcher - the Iron Lady. I suggest you listen to the conversations of others when trying to give descriptive explanations, you will be surprised how often people use periphrasis.
The King of Pop
An oxymoron (plural oxymora or oxymorons) (from Greek ὀξύμωρον, "sharp dull") is a
Euphemism- a variety of periphrases, a "whitewashing device"- a word-phrase used to replace an unpleasant or tabooed word/expression by a conventionally more acceptable, mild, or less straightforward one.