Source : Webster's Revised Unabridged Dictionary (1913)

Caricature \Car"i*ca*ture\, n. [It. caricatura, fr. caricare to
   charge, overload, exaggerate. See {Charge}, v. t.]
   1. An exaggeration, or distortion by exaggeration, of parts
      or characteristics, as in a picture.

   2. A picture or other figure or description in which the
      peculiarities of a person or thing are so exaggerated as
      to appear ridiculous; a burlesque; a parody. [Formerly
      written {caricatura}.]

            The truest likeness of the prince of French
            literature will be the one that has most of the look
            of a caricature.                      --I. Taylor.

            A grotesque caricature of virtue.     --Macaulay.

Caricature \Car"i*ca*ture\, v. t. [imp. & p. p. {Caricatured};
   p. pr. & vb. n. {Caricaturing}.]
   To make or draw a caricature of; to represent with ridiculous
   exaggeration; to burlesque.

         He could draw an ill face, or caricature a good one,
         with a masterly hand.                    --Lord
                                                  Lyttelton.

Source : WordNet®

caricature
     n : a representation of a person that is exaggerated for comic
         effect [syn: {imitation}, {impersonation}]

caricature
     v : represent in or produce a caricature of; "The drawing
         caricatured the President" [syn: {ape}]