The quote "exaggeration is the octopus of the English language" emphasizes how exaggeration permeates communication, much like an octopus extends its tentacles into various areas. It suggests that exaggeration is an inescapable part of expression, influencing how we convey ideas and emotions. This metaphor illustrates the complexity and reach of exaggerated language, suggesting it can affect understanding and interpretation.

In "The Last Bookaneer," Matthew Pearl explores the themes of language and literature, highlighting how storytelling often involves embellishment. The octopus metaphor serves as a reminder of the impact that exaggeration has on narrative and audience perception, thus creating a richer dialogue about the nature of truth and fiction in literature.