Source : Webster's Revised Unabridged Dictionary (1913)

Parody \Par"o*dy\, n.; pl. {Parodies}. [L. parodia, Gr. ?; ?
   beside + ? a song: cf. F. parodie. See {Para-}, and {Ode}.]
   1. A writing in which the language or sentiment of an author
      is mimicked; especially, a kind of literary pleasantry, in
      which what is written on one subject is altered, and
      applied to another by way of burlesque; travesty.

            The lively parody which he wrote . . . on Dryden's
            ``Hind and Panther'' was received with great
            applause.                             --Macaulay.

   2. A popular maxim, adage, or proverb. [Obs.]

Parody \Par"o*dy\, v. t. [imp. & p. p. {Parodied}; p. pr. & vb.
   n. {Parodying}.] [Cf. F. parodier.]
   To write a parody upon; to burlesque.

         I have translated, or rather parodied, a poem of
         Horace.                                  --Pope.

Source : WordNet®

parody
     n 1: a composition that imitates somebody's style in a humorous
          way [syn: {lampoon}, {spoof}, {sendup}, {mockery}, {takeoff},
           {burlesque}, {travesty}, {charade}, {pasquinade}, {put-on}]
     2: humorous or satirical mimicry [syn: {mockery}, {takeoff}]
     v 1: make a spoof of or make fun of
     2: make a parody of; "The students spoofed the teachers" [syn:
        {spoof}, {burlesque}]
     [also: {parodied}]