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1. To not exaggerate something that is too epic to be stated as simply as what it is in reality

2. To not exaggerate enough sarcastically (used commonly in fratire )
1. Awesome guy: Maddox is the bomb! \m/
More Awesome guy: Don't underexaggerate man!
Emo guy: I'll cut my wrists

2. Maddox: Celine Dion is an over-paid, over-cafeinated, botoxed bitch incapable of singing to humans.
Another awesome guy: Don't underexaggerate
by maddoxlover(guessedbynow) December 03, 2011