What is Funderstanding?
1.
The ability to understand humor.
-Tom told me a joke, but I didn't get it.
-Well Jake, it's probably because of your lack of funderstanding...
See
2.
Resigned acceptance or tolerance of an act which is fun for one party but not another.
"You guys can have a knife fight outside of the liquor store, it's okay, i FUNderstand."