Funderstatement: Noun. A contraction of "fucking" and "understatement," i.e, a "fucking understatement."

Lindsay Lohan, who in the last year has been in and out of rehab, arrested twice for DUIs, spent nearly an hour and a half in jail, and exposed every last goddamn mole on her body to everyone in the known world finally spoke to the turmoil surrounding her personal life. She tells Harper's Bazaar, in an interview appearing in their March issue:

"When I look back on this last year, it's like, what was I thinking?" (Source)

Well, that's a goddamn funderstatement if I ever heard one.