Step 1 says define (Definition Entry)

According to Wikipedia, Hyperbole is the use of exaggeration as a rhetorical device or a figure of speech. It may be used to evoke strong feelings or to create a strong impression, but is not meant to be taken literally. However, I prefer what dictionary.com says: "obvious and intentional exaggeration", because this doesn't limit hyperbole to literature.

Well, the more important thing is, what is hyperbole to me. In life, I see it as a mean of grabbing attention to an event or a subject which is not worthy of some, but the speaker is desperately trying to make it notable. In literature, I see it as something used to enhance the literary value, like adding figures simply to create an effect, some imagery and possibly win points from critics.

Anyways, I'm not going to be closed-minded and look only in the previously set outlines. Thus, I officially declare that from now on I am open to interpretations, and am willing to explore the use of hyperbole beyond the commonly known levels and aspects of it (until I get annoyed, that is).
That should do it for now.

P.S. This is what Google images fished out from the WWW for me about hyperbole. I don't agree with it though, hyperbole is what I'm actually looking for now.