A pun is a figure of speech that is used in a sentence that is capable of having more than one application, the objects being to produce a ludicrous effect. Pun involves words that are homophones – similar or identical sounds with different meanings. Puns are generally used to have a humorous impact on the audience but they have serious and a deeper meaning and purpose.
Eg: 1) Is life worth living? – It depends on the liver. 2) I like archery but it is hard to see the point.