The Collaborative International Dictionary of English v.0.48:

Shear \Shear\ (sh[=e]r), v. t. [imp. Shearedor Shore;p. p.
   Sheared or Shorn; p. pr. & vb. n. Shearing.] [OE.
   sheren, scheren, to shear, cut, shave, AS. sceran, scieran,
   scyran; akin to D. & G. scheren, Icel. skera, Dan. ski?re,
   Gr. ???. Cf. Jeer, Score, Shard, Share, Sheer to
   turn aside.]
   1. To cut, clip, or sever anything from with shears or a like
      instrument; as, to shear sheep; to shear cloth.
      [1913 Webster]

   Note: It is especially applied to the cutting of wool from
         sheep or their skins, and the nap from cloth.
         [1913 Webster]

   2. To separate or sever with shears or a similar instrument;
      to cut off; to clip (something) from a surface; as, to
      shear a fleece.
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            Before the golden tresses . . . were shorn away.
                                                  --Shak.
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   3. To reap, as grain. [Scot.] --Jamieson.
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   4. Fig.: To deprive of property; to fleece.
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   5. (Mech.) To produce a change of shape in by a shear. See
      Shear, n., 4.
      [1913 Webster]

WordNet (r) 3.0 (2006):

sheared
    adj 1: having the hair or wool cut or clipped off as if with
           shears or clippers; "picked up the baby's shorn curls
           from the floor"; "naked as a sheared sheep" [syn:
           sheared, shorn] [ant: unsheared, unshorn]
    2: (used especially of fur or wool) shaped or finished by
       cutting or trimming to a uniform length; "a coat of sheared
       lamb"

Moby Thesaurus II by Grady Ward, 1.0:

29 Moby Thesaurus words for "sheared":
   abbreviated, abridged, abstracted, bobbed, capsule, capsulized,
   clipped, compressed, condensed, cropped, curtailed, cut short,
   digested, docked, elided, elliptic, mowed, mown, nipped, pollard,
   polled, pruned, reaped, shaved, short-cut, shortened, snub,
   snubbed, trimmed