1. expressing with restraint or lack of emphasis, usually used for an ironic' or rhetorical effect.

2.basically a figure of speech that writers use to subtly make a situation less important or serious than it really is.
Saying "We've had a little rain," when the neighborhood is flooded. Now that is an understatement.

The last line of Frost's "Birches" illustrates understatement: "One could do worse than be a swinger of birches."
by AuthenticJudge March 29, 2010
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to state to weakly, or without emphasis
To say George W. Bush is a bad president would be an understatement

by Garrett San August 2, 2007
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To say that such phrase or sentence is not well defined and/or weak in its own definition
Person A: I think Richard Simmons is gay.

Person B: That's an understatement.
by ___the_underscore___ April 5, 2010
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something said that states the obvious, often falling short of the truth.
guy 1: Bush was a sucky president.
guy 2: That's the understatement of the century.
by yellowcurvedhead March 27, 2010
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Immediately after peeing in the snow, one rams his unchub in the pee hole in the snow. After the phallus is sufficiently frozen and frost bitten, the actor pulls one off. Simplicity is key.
"Hey man, how'd your night go? It was so cold out!"


"How come?"

"This girl rejected me, so I had some terrible blue balls. To relieve the situation, I had an old fashioned Yukon Understatement to set me right."

"Right on, brother."

"Not really. The tip is still frozen."
by Francis Shedaisy February 19, 2011
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They are EATING SHIT from YOUR ASSHOLE for the rest of their LIFE.
If you have SOMEONE'S UNDERSTATEMENT they are it for you.