The Collaborative International Dictionary of English v.0.48:

Loaf \Loaf\, v. i. [imp. & p. p. Loafed; p. pr. & vb. n.
   Loafing.] [G. laufen to run, Prov. G. loofen. See Leap.]
   To spend time in idleness; to lounge or loiter about. "
   Loafing vagabonds." --W. Black.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Loaf \Loaf\, v. t.
   To spend in idleness; -- with away; as, to loaf time away.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Loaf \Loaf\, n.; pl. Loaves. [OE. lof, laf, AS. hl[=a]f; akin
   to G. laib, OHG. hleip, Icel. hleifr, Goth. hlaifs, Russ.
   khlieb', Lith. kl["e]pas. Cf. Lady, Lammas, Lord.]
   Any thick lump, mass, or cake; especially, a large regularly
   shaped or molded mass, as of bread, sugar, or cake. --Bacon.
   [1913 Webster]

   Loaf sugar, refined sugar that has been formed into a
      conical loaf in a mold.
      [1913 Webster]

WordNet (r) 3.0 (2006):

loaf
    n 1: a shaped mass of baked bread that is usually sliced before
         eating [syn: loaf of bread, loaf]
    2: a quantity of food (other than bread) formed in a particular
       shape; "meat loaf"; "sugar loaf"; "a loaf of cheese"
    v 1: be lazy or idle; "Her son is just bumming around all day"
         [syn: bum, bum around, bum about, arse around,
         arse about, fuck off, loaf, frig around, waste
         one's time, lounge around, loll, loll around,
         lounge about]
    2: be about; "The high school students like to loiter in the
       Central Square"; "Who is this man that is hanging around the
       department?" [syn: loiter, lounge, footle, lollygag,
       loaf, lallygag, hang around, mess about, tarry,
       linger, lurk, mill about, mill around]

Moby Thesaurus II by Grady Ward, 1.0:

78 Moby Thesaurus words for "loaf":
   Communion, Eucharist, Holy Communion, Host, Last Supper,
   Sacrament Sunday, altar bread, batch, bean, block, brains, bread,
   bread and wine, brick, bulk, bum, bum around, cake, chump, chunk,
   clod, clump, consecrated bread, consecrated elements,
   consubstantiation, cube, do nothing, elements, fritter away, gob,
   goldbrick, goof off, hang around, head, hunk, idle, idle away,
   impanation, intinction, lallygag, laze, lazy, lie around, loiter,
   loiter about, loll, loll around, lollop around, lollygag, lounge,
   lounge around, lump, mass, mooch around, moon, moon around, noddle,
   noggin, noodle, nugget, pat, quantity, real presence, sense,
   sit around, skive, slouch, slouch around, stand around,
   subpanation, take it easy, the Holy Sacrament, the Sacrament,
   transubstantiation, vegetate, wad, wafer, waste