Many jokes are based on ambiguity of some kind.  Ambiguity is a situation when the same word or a combination of words could be understood in different ways.  The ambiguities arise mostly in homophones (words that have the same pronunciation but different spellings and meanings) and homonyms (words that have the same pronunciation and spelling, but different meanings). A joke that exploits similar sounding words with different meanings is called a pun.  Let’s take a look at one of them.