What is the opposite of hyperbole, representing something as much less than it is?

The correct answer is an example of understatement, which is a rhetorical device that intentionally presents something as being less significant or smaller than it actually is. This technique is often used for comedic effect or to create emphasis by downplaying a situation. For instance, if someone were to describe a catastrophic event by saying, “It was just a little rain,” that's an understatement, as it minimizes the severity of the situation.

By contrast, the other choices do not fit this definition. A pun is a play on words that exploits multiple meanings for humorous effect but does not involve diminishing significance. A soliloquy is a literary device where a character speaks their thoughts aloud, usually in a play, and it does not involve a comparison of scale or significance. Repetition simply refers to the use of the same word or phrase multiple times to emphasize a point, which also does not correlate with the act of minimizing something's importance. Therefore, understatement is the clear choice that accurately captures the opposite of hyperbole.