A representation, especially pictorial or literary, in which the subject's distinctive features or peculiarities are deliberately exaggerated to produce a comic or grotesque effect. The art of creating such representations.

A grotesque imitation or misrepresentation: The trial was a caricature of justice. To represent or imitate in an exaggerated, distorted manner.

[French, from Italian caricatura, from caricare, to load, exaggerate, from Late Latin carricāre, from Latin carrus, a Gallic type of wagon.]

CARICATURIST
SYNONYMS caricature, burlesque, parody, travesty, satire, lampoon. These nouns denote artistic forms in which someone or something is imitated in an amusing and generally critical manner. A caricature grossly exaggerates a distinctive or striking feature with intent to ridicule: drew a caricature of the politician. Burlesque, which usually denotes a dramatic work, suggests outlandish mimicry and broad comedy to provoke laughter: a burlesque playing at the theater. Parody, travesty, and satire generally apply to written works. Parody employs the manner and style of a well-known work or writer for a ludicrous effect: wrote a parody of the famous novel. A travesty is a harshly distorted imitation: a travesty of morality. Satire usually involves ridiculing follies and vices: employs satire in her poetry. A lampoon is a malicious but broadly humorous satire: a lampoon authored by a standup comic.

WORD HISTORY
The history of the word caricature takes us back through the centuries to a time when the Romans occupied Gaul, offering the blessings of civilization to the Gauls but also borrowing from them as well. One such borrowing, the Gaulish word *karros, meaning “a wagon or cart,” became Latin carrus, “a Gallic type of wagon.” This Latin word has continued to roll through the English language, giving us car, career, cargo, carry, and charge, among others. Caricature, another offspring of carrus, came to us via French from Italian, in which caricatura, the source of the French word, was derived from Italian caricare, “to load, burden, or exaggerate.” Caricare in turn came from Late Latin carricāre, “to load,” derived from the Romans' Gaulish borrowing carrus.

In: www.answers.com
See some Polital caricatures here

Comics art legend Alex Toth died yesterday. Although he began as an old school DC artist in the forties with Kubert, Infantino and Hasen, Alex Toth's artwork, greatly influenced by newspaper cartoonists like Noel Sickles and Milton Caniff, gradually grew more stylized. His panel layouts were legendary and, especially in later years, his long, hand-lettered and illustrated letters to fans, magazines, columns, etc. were highly prized. Although never associated particularly with one strip, Toth is represented here in the Library in many forms. Seen here is a copy of the second Golden Age comic book I ever purchased. ($5.00 in 1974) Toth had been one of the regular artists on the long-running GREEN LANTERN strip that had been cover-featured on ALL-AMERICAN COMICS for ages. With this particular issue, though, # 100, GL took a back seat that would soon lead to his early retirement as Alex Toth presented the new cover feature, JOHNNY THUNDER! Now, of course, all DC fans know that Johnny Thunder was a JSA member and had his own strip (and his own Thunderbolt!) but this was somebody new--a cowboy! The always popular western genre was about to take over the world of pop culture in the fifties on the new medium of television and the comics were jumping on the bandwagon as early as 1948. Toth's storytelling made this a cut above the rest and in just a couple of months, GREEN LANTERN was phased out completely and the book's title changed to ALL-AMERICAN WESTERN. DC reprinted and revived this JOHNNY THUNDER numerous times over the years as Alex Toth's work has grown in stature. He was one of the greats and his incredible work will continue to be discovered by new generations.

Steven Thompson  - booksteveslibrary.blogspot.com