"Not too bad" for "very good"

• Figure of speech that employs ironic understatement
• T S Eliot's quirky figure of speech
• Understatement for effect
• Little child in stories making understatement
• Toilets revolting; and that's an understatement
• Figure of speech like "no mean feat"
• Figure of speech like "not unlike"

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 ]

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"); ...

Wikipedia Word definitions in Wikipedia
In rhetoric , litotes (, or ) is a figure of speech wherein understatement is used to emphasize a point by stating a negative to further affirm a positive, often incorporating double negatives for effect. For example, "She's not bad looking" could be used ...