Merriam-Webster's Collegiate® Dictionary, 11th Edition
VELVET
I. noun see: wool
Date: 14th century
a clothing and upholstery fabric (as of silk, rayon, or wool) characterized by a short soft dense warp pile,
2. something suggesting velvet, a characteristic (as softness or smoothness) of velvet, the soft vascular skin that envelops and nourishes the developing antlers of deer,
4. the winnings of a player in a gambling game, a profit or gain beyond ordinary expectation, velvetlike adjective
II. adjective
Date: 14th century
made of or covered with velvet, resembling or suggesting velvet ; velvety