Source : Webster's Revised Unabridged Dictionary (1913)

Valance \Val"ance\, n. [Perhaps fr. OF. avalant descending,
   hanging down, p. pr. of avaler to go down, let down, descent
   (cf. {Avalanche}); but probably from the town of Valence in
   France.]
   1. Hanging drapery for a bed, couch, window, or the like,
      especially that which hangs around a bedstead, from the
      bed to the floor. [Written also {valence}.]

            Valance of Venice gold in needlework. --Shak.

   2. The drooping edging of the lid of a trunk. which covers
      the joint when the lid is closed.

Valance \Val"ance\, v. t. [imp. & p. p. {Valanced}; p. pr. & vb.
   n. {Valancing}.]
   To furnish with a valance; to decorate with hangings or
   drapery.

         His old fringed chair valanced around with
         party-colored worsted bobs.              --Sterne.

Source : WordNet®

valance
     n : a decorative framework to conceal curtain fixtures at the
         top of a window casing [syn: {cornice}, {valance board},
         {pelmet}]