\overbrace
and \underbrace
are constructed out of 5 parts:
- left end;
- (left) horizontal rule;
- tip (up/down);
- (right) horizontal rule;
- right end.
Since both horizontal rules are leaders, it is easy enough to modify them using a "shared" approach. That is you can change the share of the left leader in comparison to the right, thereby moving the tip left or right. For example, sharing the left/right leader at a 1:2 ratio would put the tip 1/3 of the way in, while a 3:2 ratio would put the tip 60% of the way in. The default would be a centred/1:1 ratio.

\documentclass{article}
\usepackage{etoolbox}% http://ctan.org/pkg/etoolbox
\usepackage{multido}% http://ctan.org/pkg/multido
\makeatletter
\def\@@bfil{\leaders \vrule \@height \ht\z@ \@depth \z@ \hfill}% default brace filler
\def\@bLfil{\@@bfil}% left leader filler
\def\@bRfil{\@@bfil}% right leader filler
\def\resetbraceratio{\gdef\@bLfil{\@@bfil}\gdef\@bRfil{\@@bfil}}% reset to default braces
\def\setbraceratio#1#2{% \setbraceratio{<left>}{<right>}
\let\@bLfil\relax% clear left filler
\multido{\iA=1+1}{#1}{\gappto\@bLfil{\@@bfil}}% increase left ratio
\let\@bRfil\relax% clear right filler
\multido{\iA=1+1}{#2}{\gappto\@bRfil{\@@bfil}}% increase right ratio
}
\def\upbracefill{$\m@th\setbox\z@\hbox{$\braceld$}\bracelu\@bLfil\bracerd\braceld\@bRfil\braceru$}
\def\downbracefill{$\m@th\setbox\z@\hbox{$\braceld$}\braceld\@bLfil\braceru\bracelu\@bRfil\bracerd$}
\makeatother
\begin{document}
\setbraceratio{3}{1}% 3:1 ratio
$\underbrace{\textrm{The quick brown fox jumped over the lazy dog}}$ \par
\setbraceratio{1}{5}% 1:5 ratio
$\underbrace{\textrm{The quick brown fox jumped over the lazy dog}}$ \par
\setbraceratio{7}{2}% 7:2 ratio
$\overbrace{\textrm{The quick brown fox jumped over the lazy dog}}$ \par
\end{document}
\setbraceratio{<left>}{<right>}
sets the ratio between the left and right part of the braces, while \resetbraceratio
restores to the default (or 1:1).
The problem with this approach is the the horizontal centre may differ from the location where the tip is. As such, adding text as a superscript/subscript would have to be moved into the appropriate position. It would be possible to extend this solution to work with lengths rather than ratio's. However, that would require some testing to make sure you don't exceed the box width - ratio's take care of this naturally.
The abraces
package now provides a character key-driven interface to brace creation. Some examples from the documentation:

Brace construction is based on character combinations:
