Source : Webster's Revised Unabridged Dictionary (1913)

Jersey \Jer"sey\, n.; pl. {Jerseys}. [From Jersey, the largest
   of the Channel Islands.]
   1. The finest of wool separated from the rest; combed wool;
      also, fine yarn of wool.

   2. A kind of knitted jacket; hence, in general, a
      closefitting jacket or upper garment made of an elastic
      fabric (as stockinet).

   3. One of a breed of cattle in the Island of Jersey. Jerseys
      are noted for the richness of their milk.

Source : WordNet®

jersey
     n 1: a close-fitting pullover shirt [syn: {T-shirt}, {tee shirt}]
     2: a slightly elastic machine-knit fabric
     3: breed from the island of Jersey