The Collaborative International Dictionary of English v.0.48:

Effigy \Ef"fi*gy\, n.; pl. Effigies. [L. effigies, fr.
   effingere to form, fashion; ex + fingere to form, shape,
   devise. See Feign.]
   The image, likeness, or representation of a person, whether a
   full figure, or a part; an imitative figure; -- commonly
   applied to sculptured likenesses, as those on monuments, or
   to those of the heads of princes on coins and medals,
   sometimes applied to portraits.
   [1913 Webster]

   To burn in effigy, or To hang in effigy, to burn or to
      hang an image or picture of a person, as a token of public
      odium.
      [1913 Webster]

WordNet (r) 3.0 (2006):

effigy
    n 1: a representation of a person (especially in the form of
         sculpture); "the coin bears an effigy of Lincoln"; "the
         emperor's tomb had his image carved in stone" [syn:
         effigy, image, simulacrum]

Moby Thesaurus II by Grady Ward, 1.0:

35 Moby Thesaurus words for "effigy":
   companion, copy, dead ringer, double, duplicate, exact likeness,
   fellow, icon, idol, image, likeness, living image, living picture,
   match, mate, miniature, mirroring, model, photograph, picture,
   portrait, reflection, resemblance, rubbing, semblance, shadow,
   similitude, simulacrum, spit and image, spitting image, trace,
   tracing, twin, very image, very picture



Bouvier's Law Dictionary, Revised 6th Ed (1856):

EFFIGY, crim. law. The figure or representation of a person.
     2. To make the effigy of a person with an intent to make him the object
of ridicule, is a libel. (q.v.) Hawk. b. 1, c. 7 3, s. 2 14 East, 227; 2
Chit. Cr. Law, 866.
     3. In France an execution by effigy or in effigy is adopted in the case
of a criminal who has fled from justice. By the public exposure or
exhibition of a picture or representation of him on a scaffold, on which his
name and the decree condemning him are written, he is deemed to undergo the
punishment to which he has been sentenced. Since the adoption of the Code
Civil, the practice has been to affix the names, qualities or addition, and
the residence of the condemned person, together with an extract from the
sentence of condemnation, to a post set upright in the ground, instead of
exhibiting a portrait of him on the scaffold. Repertoire de Villargues;
Biret, Vo cab.