The Collaborative International Dictionary of English v.0.48:

Flaunt \Flaunt\ (fl[aum]nt or fl[add]nt; 277), v. i. [imp. & p.
   p. Flaunted; p. pr. & vb. n.. Flaunting.] [Cf. dial. G.
   flandern to flutter, wave; perh. akin to E. flatter,
   flutter.]
   To throw or spread out; to flutter; to move ostentatiously;
   as, a flaunting show.
   [1913 Webster]

         You flaunt about the streets in your new gilt chariot.
                                                  --Arbuthnot.
   [1913 Webster]

         One flaunts in rags, one flutters in brocade. --Pope.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Flaunt \Flaunt\, v. t.
   To display ostentatiously; to make an impudent show of. "If
   you've got it, flaunt it."
   [1913 Webster +PJC]

The Collaborative International Dictionary of English v.0.48:

Flaunt \Flaunt\, n.
   Anything displayed for show. [Obs.]
   [1913 Webster]

         In these my borrowed flaunts.            --Shak.
   [1913 Webster]

WordNet (r) 3.0 (2006):

flaunt
    n 1: the act of displaying something ostentatiously; "his
         behavior was an outrageous flaunt"
    v 1: display proudly; act ostentatiously or pretentiously; "he
         showed off his new sports car" [syn: flaunt, flash,
         show off, ostentate, swank]

Moby Thesaurus II by Grady Ward, 1.0:

83 Moby Thesaurus words for "flaunt":
   advertise, affect, air, betoken, blazon forth, boast, brag,
   brandish, breathe, bring forth, bring forward, bring into view,
   bring out, bring to notice, broadcast, dangle, declare,
   demonstrate, develop, disclose, discover, display, disport,
   divulge, dramatize, emblazon, embody, enact, evidence, evince,
   exhibit, expose, expose to view, express, flap, flash, float,
   flourish, flutter, fly, gasconade, give sign, give token,
   highlight, hold up, illuminate, incarnate, indicate, make clear,
   make plain, manifest, materialize, mean, parade, perform, present,
   proclaim, produce, publish, put forth, put forward, represent,
   reveal, roll out, set forth, shake, show, show forth, show off,
   sport, spotlight, swing, token, trot out, trumpet, trumpet forth,
   undulate, unfold, vaunt, wag, wave, wield, wigwag