Hyperbole is an exaggeration. It is when a writer or speaker wishes to make a point by deliberately exaggerating something.
Example: “I nearly died laughing.” This is an exaggeration – you did not “nearly die”.
Understatement is the opposite of a HYPERBOLE. It is when the speaker or writer makes something sound less important than it really is. They wish to make something that is very important into something normal or unimportant.
Example: "It's a bit yellow" - while describing a very yellow canary.
Oxymoron is a figure of speech in which two words of opposite meaning are brought together for special effect.
Example: "Simplicity is not a simple thing."
Periphrasis is change one word to another word or phrase.
Example: loveli-er - more lovely, present - give a presentation