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In this chapter, I will outline the labels of giftedness and underachievement and present the theoretical debates surrounding these labels. A historicist examination of these labels follows, highlighting how the gifted underachievement (GUA) label emerges through the negation of “giftedness.” Subsequently, I explore the concept of GUA and its negative connotations, stemming from the positive valuation inherent in the term “giftedness” and its implications for what is considered “normal.” This chapter also reviews perspectives on shifting the focus away from the individual within the current paradigm of labeling giftedness and explores insights from systemic thinking and symbolic interactionism (SI). The conclusion underscores the necessity of a symbolic interactionist perspective to address the gaps in research on the labeling of giftedness and underachievement. Finally, I propose a generic definition that can be used in GUA research in the light of SI.