An epithet, is a byname or a descriptive term (word or phrase), accompanying or occurring in place of a name and having entered common usage. It can be described as a glorified
...
In contemporary usage, epithet often refers to an abusive, defamatory, or derogatory phrase, such as a racial epithet.
Epithet is an adjective or adjective phrase appropriately qualifying a subject (noun) by naming a key or important characteristic of the subject, as in "laughing happiness," "sneering contempt," "untroubled sleep," "peaceful dawn," and "lifegiving water." Sometimes a metaphorical epithet will be good to use, as in "lazy road," "tired landscape," "smirking billboards," "anxious apple."
Aptness and brilliant effectiveness are the key considerations in choosing epithets. Be fresh, seek striking images, pay attention to connotative value.
A transferred epithet is an adjective modifying a noun which it does not normally modify, but which makes figurative sense:
At length I heard a ragged noise and mirth of thieves and murderers .... --George Herbert
Blind mouths! that scarce themselves know how to hold / A sheep hook ... --John Milton
In an age of pressurized happiness, we sometimes grow insensitive to subtle joys.
The striking and unusual quality of the transferred epithet calls attention to it, and it can therefore be used to introduce emphatically an idea you plan to develop.
The phrase will stay with the reader, so there is no need to repeat it, for that would make it too obviously rhetorical and even a little annoying.
Thus, if you introduce the phrase, "diluted electricity," your subsequent development ought to return to more mundane synonyms, such as "low voltage," "brownouts," and so forth.
It may be best to save your transferred epithet for a space near the conclusion of the discussion where it will be not only clearer (as a synonym for previously stated and clearly understandable terms) but more effective, as a kind of final, quintessential, and yet novel conceptualization of the issue. The reader will love it.
Best Answer
Straight Dope has a good explanation and here is the answer from the article:
Here is a passage about how it is introduced to America from a book called "Potato: A History of the Propitious Esculent" By John Reader: