A health; also a beautiful woman whose health is often drank by men. The origin of this term (as it is said) was this: a beautiful lady bathing in a cold bath, one of her admirers out of gallantry drank some of the water: whereupon another of her lovers observed, he never drank in the morning, but he would kiss the toast, and immediately saluted the lady.
TOAST
Meaning of TOAST in English
Slang English vocab. Английский сленговый словарь. 2012