Source : Webster's Revised Unabridged Dictionary (1913)

Tippet \Tip"pet\, n. [OE. tipet, tepet, AS. t[ae]ppet, probably
   fr. L. tapete tapestry, hangings. Cf. {Tape}, {Tapestry},
   {Tapet}.]
   1. A cape, or scarflike garment for covering the neck, or the
      neck and shoulders, -- usually made of fur, cloth, or
      other warm material. --Chaucer. Bacon.

   2. A length of twisted hair or gut in a fish line. [Scot.]

   3. A handful of straw bound together at one end, and used for
      thatching. [Scot.] --Jamieson.

   {Tippet grebe} (Zo["o]l.), the great crested grebe, or one of
      several similar species.

   {Tippet grouse} (Zo["o]l.), the ruffed grouse.

   {To turn tippet}, to change. [Obs.] --B. Jonson.

Source : WordNet®

tippet
     n : a woman's fur shoulder cape with hanging ends; often
         consisting of the whole fur of a fox or marten