/ ˈpælət; NAmE / noun
1.
a heavy wooden or metal base that can be used for moving or storing goods
2.
a cloth bag filled with straw , used for sleeping on
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WORD ORIGIN
sense 2 Middle English : from Anglo-Norman French paillete , from paille straw, from Latin palea .
sense 1 late Middle English (originally referring to a flat wooden blade used to shape clay or plaster): from French palette little blade, from Latin pala spade (related to palus stake).