Source : Webster's Revised Unabridged Dictionary (1913)

Gravy \Gra"vy\, n.; pl. {Gravies}. [OE. greavie; prob. fr.
   greaves, graves, the sediment of melted tallow. See
   {Greaves}.]
   1. The juice or other liquid matter that drips from flesh in
      cooking, made into a dressing for the food when served up.

   2. Liquid dressing for meat, fish, vegetables, etc.

Source : WordNet®

gravy
     n 1: basically the juices that drip from cooking meats
     2: a sudden happening that brings good fortune (as a sudden
        opportunity to make money); "the demand for testing has
        created a boom for those unregulated laboratories where
        boxes of specimen jars are processed lik an assembly line"
        [syn: {boom}, {bonanza}, {gold rush}, {godsend}, {manna
        from heaven}, {windfall}, {bunce}]