Source : Webster's Revised Unabridged Dictionary (1913)

Loaf \Loaf\, n.; pl. {Loaves}. [OE. lof, laf, AS. hl[=a]f; akin
   to G. laib, OHG. hleip, Icel. hleifr, Goth. hlaifs, Russ.
   khlieb', Lith. kl["e]pas. Cf. {Lady}, {Lammas}, {Lord}.]
   Any thick lump, mass, or cake; especially, a large regularly
   shaped or molded mass, as of bread, sugar, or cake. --Bacon.

   {Loaf sugar}, refined sugar that has been formed into a
      conical loaf in a mold.

Loaf \Loaf\, v. i. [imp. & p. p. {Loafed}; p. pr. & vb. n.
   {Loafing}.] [G. laufen to run, Prov. G. loofen. See {Leap}.]
   To spend time in idleness; to lounge or loiter about. ``
   Loafing vagabonds.'' --W. Black.

Loaf \Loaf\, v. t.
   To spend in idleness; -- with away; as, to loaf time away.

Source : WordNet®

loaf
     n : a shaped mass of baked bread [syn: {loaf of bread}]
     [also: {loaves} (pl)]

loaf
     v 1: be lazy or idle; "Her son is just bumming around all day"
          [syn: {bum}, {bum around}, {bum about}, {arse around}, {arse
          about}, {fuck off}, {frig around}, {waste one's time}, {lounge
          around}, {loll}, {loll around}, {lounge about}]
     2: be about; "The high school students like to loiter in the
        Central Square"; "Who is this man that is hanging around
        the department?" [syn: {loiter}, {lounge}, {footle}, {lollygag},
         {lallygag}, {hang around}, {mess about}, {tarry}, {linger},
         {lurk}, {mill about}, {mill around}]
     [also: {loaves} (pl)]