When a word or phrase implies meaning opposite literal is best described as?

The best description for a word or phrase that implies a meaning opposite its literal meaning is irony.

Here's why:

* Irony is a literary device where the intended meaning is the opposite of the literal meaning of the words. It often creates humor or a sense of poignancy.

* Sarcasm is a specific type of irony that is meant to be hurtful or mocking.

* Satire is a broader form of irony that uses humor to criticize society or individuals.

Here are some examples:

* "It's a beautiful day for a walk," said the man as he was drenched in rain. (Verbal irony)

* The fire station burning down. (Situational irony)

* A sign outside a bank that reads "We're here to help you with your money." (Dramatic irony, if the bank is failing)

Let me know if you'd like more examples or have any other questions!