What do we call a joke that arises from multiple meanings of words?

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A joke that arises from the multiple meanings of words is known as a pun. Puns play with language by exploiting the different meanings of words or similar-sounding words to create humor. For instance, a pun can occur when a word has more than one meaning, or when words that sound alike are used in a way that creates a humorous effect. This form of wordplay is often found in literature and comedy, making it a popular tool for writers and speakers who wish to entertain their audience with clever language.

In contrast, a soliloquy is a device in drama where a character speaks their thoughts aloud to oneself, typically revealing inner feelings and thoughts, but it does not serve as a joke. Repetition refers to the technique of repeating words or phrases for emphasis, which is not inherently humorous. An understatement is a figure of speech used to intentionally make a situation seem less serious or important than it is, which also does not focus on wordplay.