The Collaborative International Dictionary of English v.0.48:

Lotion \Lo"tion\, n. [L. lotio, fr. lavare, lotum, to wash: cf.
   F. lotion. See Lave to wash.]
   1. A washing, especially of the skin for the purpose of
      rendering it fair.
      [1913 Webster]

   2. A liquid preparation for bathing the skin, or an injured
      or diseased part, either for a medicinal purpose, or for
      improving its appearance.
      [1913 Webster]

WordNet (r) 3.0 (2006):

lotion
    n 1: any of various cosmetic preparations that are applied to
         the skin
    2: liquid preparation having a soothing or antiseptic or
       medicinal action when applied to the skin; "a lotion for dry
       skin" [syn: lotion, application]

Moby Thesaurus II by Grady Ward, 1.0:

73 Moby Thesaurus words for "lotion":
   Florida water, abstergent, after-shave lotion, balm, balsam,
   bay rum, brilliantine, cathartic, cerate, chrism, cleaner,
   cleaning agent, cleaning solvent, cleanser, cleansing cream,
   cold cream, collyrium, cologne, cologne water, cream, demulcent,
   dentifrice, depurant, detergent, diuretic, eau de Cologne,
   eau de jasmin, eau de lavande, eau de rose, embrocation, emetic,
   emollient, enema, eye-lotion, eyewash, eyewater, face cream,
   hand lotion, holystone, inunction, inunctum, lanolin,
   lavender water, lenitive, liniment, mouthwash, nard, nauseant, oil,
   ointment, pomade, pomatum, pumice stone, purgative, purge,
   purifier, rinse, rose water, salve, shampoo, soap, solvent,
   soothing syrup, spikenard, synthetic detergent, toilet water,
   tooth powder, toothpaste, unction, unguent, unguentum, vulnerary,
   wash