Wiktionary
n. 1 (&lit word play English) 2 A technique in which the nature of the words used become part of the subject of the work, such as puns, phonetic mix-ups such as spoonerisms, obscure words and meanings, clever rhetorical excursions, oddly formed sentences, and telling character names.
WordNet
n. playing on words or speech sounds
Wikipedia
Word play or wordplay (also: play-on-words) is a literary technique and a form of wit in which the words that are used become the main subject of the work, primarily for the purpose of intended effect or amusement. Examples of word play include puns, phonetic mix-ups such as spoonerisms, obscure words and meanings, clever rhetorical excursions, oddly formed sentences, double entendres, and telling character names (such as in the play The Importance of Being Earnest, Ernest being a given name that sounds exactly like the adjective earnest).
Word play is quite common in oral cultures as a method of reinforcing meaning. Examples of text-based ( orthographic) word play are found in languages with or without alphabet-based scripts; for example, see homophonic puns in Mandarin Chinese.
Usage examples of "word play".
Both the man and the word play an important role in the next chapter.
She and Kailash had enjoyed debating each other, just for the pleasure of word play.