Source : Webster's Revised Unabridged Dictionary (1913)

Shanty \Shan"ty\, a.
   Jaunty; showy. [Prov. Eng.]

Shanty \Shan"ty\, n.;pl. {Shanties}. [Said to be fr. Ir. sean
   old + tig. a house.]
   A small, mean dwelling; a rough, slight building for
   temporary use; a hut.

Shanty \Shan"ty\, v. i.
   To inhabit a shanty. --S. H. Hammond.

Source : WordNet®

shanty
     n 1: small crude shelter used as a dwelling [syn: {hovel}, {hut},
           {hutch}, {shack}]
     2: a rhythmical work song originally sung by sailors [syn: {chantey},
         {chanty}, {sea chantey}]