/sheep"skin'/ , n.
1. the skin of a sheep, esp. such a skin dressed with the wool on, as for a garment.
2. leather, parchment, or the like, made from the skin of sheep.
3. Informal. a diploma.
adj.
4. made from the skin of a sheep.
5. (of a garment) lined with the skin of a sheep dressed with the wool on.
[ 1150-1200; ME shepskinn. See SHEEP, SKIN ]