Source : Webster's Revised Unabridged Dictionary (1913)

Wordplay \Word"play`\, n.
   A more or less subtle playing upon the meaning of words.

Source : WordNet®

wordplay
     n : a humorous play on words; "I do it for the pun of it"; "his
         constant punning irritated her" [syn: {pun}, {punning}, {paronomasia}]