wit (n.)

mid-14c., "fluid or juice of an animal or plant," from Old North French humour "liquid, dampness; (medical) humor" (Old French humor, umor; Modern French humeur), from Latin umor "body fluid" (also humor, by false association with humus "earth"); related to umere "be wet, moist," and to uvescere "become wet" (see humid).

In old medicine, "any of the four body fluids" (blood, phlegm, choler, and melancholy or black bile).

The human body had four humors—blood, phlegm, yellow bile, and black bile—which, in turn, were associated with particular organs. Blood came from the heart, phlegm from the brain, yellow bile from the liver, and black bile from the spleen. Galen and Avicenna attributed certain elemental qualities to each humor. Blood was hot and moist, like air; phlegm was cold and moist, like water; yellow bile was hot and dry, like fire; and black bile was cold and dry, like earth. In effect, the human body was a microcosm of the larger world. [Robert S. Gottfried, "The Black Death," 1983]

 Their relative proportions were thought to determine physical condition and state of mind. This gave humor an extended sense of "mood, temporary state of mind" (recorded from 1520s); the sense of "amusing quality, funniness, jocular turn of mind" is first recorded 1680s, probably via sense of "whim, caprice" as determined by state of mind (1560s), which also produced the verb sense of "indulge (someone's) fancy or disposition." Modern French has them as doublets: humeur "disposition, mood, whim;" humour "humor." "The pronunciation of the initial h is only of recent date, and is sometimes omitted ..." [OED].

For aid in distinguishing the various devices that tend to be grouped under "humor," this guide, from Henry W. Fowler ["Modern English Usage," 1926] may be of use:

HUMOR: motive/aim: discovery; province: human nature; method/means: observation; audience: the sympathetic

WIT: motive/aim: throwing light; province: words & ideas; method/means: surprise; audience: the intelligent

SATIRE: motive/aim: amendment; province: morals & manners; method/means: accentuation; audience: the self-satisfied

SARCASM: motive/aim: inflicting pain; province: faults & foibles; method/means: inversion; audience: victim & bystander

INVECTIVE: motive/aim: discredit; province: misconduct; method/means: direct statement; audience: the public

IRONY: motive/aim: exclusiveness; province: statement of facts; method/means: mystification; audience: an inner circle

CYNICISM: motive/aim: self-justification; province: morals; method/means: exposure of nakedness; audience: the respectable

SARDONIC: motive/aim: self-relief; province: adversity; method/means: pessimism; audience: the self

1530s, abbreviation of videlicet "that is to say, to wit, namely" (mid-15c.), from Latin videlicet, contraction of videre licet "it is permissible to see," from videre "to see" (see vision) + licet "it is allowed," third person singular present indicative of licere "be allowed" (see licence). The -z- is not a letter, but originally a twirl, representing the usual Medieval Latin shorthand symbol for the ending -et. "In reading aloud usually rendered by 'namely.' " [OED]