'Not unhappy,' e.g

• Toilets revolting; and that's an understatement
• Figure of speech like "not unlike"
• Figure of speech like "no mean feat"
• Understatement for rhetorical effect (especially when expressing an affirmative by negating its contrary)
• Understatement for effect

WordNet Word definitions in WordNet
n. understatement for rhetorical effect (especially when expressing an affirmative by negating its contrary); "saying `I was not a little upset' when you mean `I was very upset' is an example of litotes" [syn: meiosis ]

Wiktionary Word definitions in Wiktionary
n. (context rhetoric English) A figure of speech in which the speaker emphasizes the magnitude of a statement by denying its opposite; a figure of speech in which understatement is used with negation to express a positive attribute; a form of irony

The Collaborative International Dictionary Word definitions in The Collaborative International Dictionary
Meiosis \Mei*o"sis\ (m[-i]*[=o]"s[i^]s), n. [NL., fr. Gr. mei`wsis, fr. meioy^n to make smaller, from mei`wn. See Meionite .] (Rhet.) Diminution; a species of hyperbole, representing a thing as being less than it really is; understatement; see also litotes ...

Douglas Harper's Etymology Dictionary Word definitions in Douglas Harper's Etymology Dictionary
rhetorical figure in which an affirmative is expressed by the negative of its opposite, from Greek litotes , literally "plainness, simplicity," from litos "smooth, plain, small, meager," from PIE root *(s)lei- "slimy, sticky, slippery" (hence "smooth"); ...