parody vs caricature

parody and caricature both are nouns.

Word	Noun	Adjective	Verb	Adverb
parody	Yes	No	Yes	No
caricature	Yes	No	Yes	No

As nouns, caricature is a hypernym of parody; that is, caricature is a word with a broader meaning than parody:

parody: a composition that imitates or misrepresents somebody's style, usually in a humorous way
caricature: a representation of a person that is exaggerated for comic effect

Other hypernyms of parody include imitation, impersonation.

parody (noun)	caricature (noun)
humorous or satirical mimicry	a representation of a person that is exaggerated for comic effect
a composition that imitates or misrepresents somebody's style, usually in a humorous way

parody (verb)	caricature (verb)
make a parody of	represent in or produce a caricature of
make a spoof of or make fun of