Source : Webster's Revised Unabridged Dictionary (1913)

Taffeta \Taf"fe*ta\, Taffety \Taf"fe*ty\, n. [F. taffetas, It.
   taffet[`a], from Per. t[=a]ftah, originally, twisted, woven,
   from t[=a]ftan to twist, to spin.]
   A fine, smooth stuff of silk, having usually the wavy luster
   called watering. The term has also been applied to different
   kinds of silk goods, from the 16th century to modern times.

         Lined with taffeta and with sendal.      --Chaucer.

Source : WordNet®

taffeta
     n : a crisp smooth lustrous fabric