complisult
n. A backhanded compliment. [compliment + insult]

Example Citations:
“She has a pretty face.” It‘s one of the more common complisults.
—Soraya Roberts, “Vogue cover of Lena Dunham gives ‘butterbody’ the stamp of approval,” Hamilton Spectator, January 22, 2014

Drake isn’t helping all the talk surrounding his own simp-hood with interviews like this. Call it a backhanded compliment, a complisult or throwing shade if you want, but Drake just restarted his beef with Kendrick Lamar while praising Lamar‘s debut album good kid, m.A.A.d. city.
—Alex Galbraith, “Drake reignites Kendrick Lamar beef while praising ‘good kid, m.A.A.d. city’,” Mstarz, January 2, 2014

Earliest Citation:
Complisult
It is a mix between a compliment and an insult. You are complimenting someone and insulting them at the same time.
—Charles James, “Complisult,” Urban Dictionary, April 12, 2004

Notes:
Nothing but compliments go to Karen H for passing along this word, the early leader in the running for Ugliest Neologism of the Year.

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