polyrhythm

Can someone clear up poly-rhythms for me please.
My theory isn't great and I don't find the videos available on youtube very clear.
I think it's something in could find useful in trying to create music similar to slower tracks from A perfect circle, tool, or dorje.
I think with say 3:4 polyrhythm it consists of either :
Playing 4:4 quarter or 16th notes, but putting emphasis on or only playing every 3rd note, meaning it would take 4 repetitions of these groups of 3 before resolving the emphasis of both parts.
or is it
Taking a bar which lasts an absolute amount of time and having one player divide this in to quarters and the other divide it in to thirds?
My theory isn't great and I don't find the videos available on youtube very clear.
I think it's something in could find useful in trying to create music similar to slower tracks from A perfect circle, tool, or dorje.
I think with say 3:4 polyrhythm it consists of either :
Playing 4:4 quarter or 16th notes, but putting emphasis on or only playing every 3rd note, meaning it would take 4 repetitions of these groups of 3 before resolving the emphasis of both parts.
or is it
Taking a bar which lasts an absolute amount of time and having one player divide this in to quarters and the other divide it in to thirds?