Source : Webster's Revised Unabridged Dictionary (1913)

Confetti \Con*fet"ti\, n. pl.; sing. {-fetto}. [It. Cf.
   {Comfit}.]
   Bonbons; sweetmeats; confections; also, plaster or paper
   imitations of, or substitutes for, bonbons, often used by
   carnival revelers, at weddings, etc.

Source : WordNet®

confetti
     n : small pieces or streamers of colored paper that are thrown
         around on festive occasions (as at a wedding)