Which of the following describes hyperbole?

Hyperbole is defined as an exaggerated statement that is not intended to be taken literally. It is often used for emphasis or to create a strong emotional response. In literary contexts, hyperbole serves as a rhetorical device that allows writers and speakers to make a point more effectively by overstating an idea to highlight its significance or to create a humorous effect. For instance, saying "I'm so hungry I could eat a horse" is a hyperbolic expression that emphasizes extreme hunger without implying that the speaker actually wants to eat a horse.

The other options do not capture the essence of hyperbole. A poetic comparison between two unlike things refers to a metaphor or simile, while an understated expression used for irony implies a subtlety opposite to hyperbole. Lastly, a realistic portrayal of everyday events does not involve exaggeration at all, which is the main characteristic of hyperbole. Thus, the correct answer effectively conveys what hyperbole is and how it functions in language.