■ noun a small round hole in leather or cloth for threading a lace, string, or rope through.
↘a metal ring used to reinforce such a hole.
↘a small hole with stitching around its edge, used as a form of decoration in embroidery.
■ verb ( ~s , ~ing , ~ed ) make ~s in (fabric).
Origin
ME oilet , from OFr. oillet , dimin. of oil 'eye', from L. oculus .