The Collaborative International Dictionary of English v.0.48:

Tatter \Tat"ter\, v. t. [p. p. Tattered.]
   To rend or tear into rags; -- used chiefly in the past
   participle as an adjective.
   [1913 Webster]

         Where waved the tattered ensigns of Ragfair. --Pope.
   [1913 Webster]

WordNet (r) 3.0 (2006):

tattered
    adj 1: worn to shreds; or wearing torn or ragged clothing; "a
           man in a tattered shirt"; "the tattered flag"; "tied up
           in tattered brown paper"; "a tattered barefoot boy"; "a
           tatterdemalion prince" [syn: tattered,
           tatterdemalion]
    2: ruined or disrupted; "our shattered dreams of peace and
       prosperity"; "a tattered remnant of its former strength"; "my
       torn and tattered past" [syn: shattered, tattered]

Moby Thesaurus II by Grady Ward, 1.0:

76 Moby Thesaurus words for "tattered":
   beat-up, bedraggled, blowzy, broken-down, careless, chintzy, cleft,
   cloven, cracked, cut, dilapidated, dingy, dowdy, down-at-heel,
   down-at-the-heels, drabbletailed, draggled, draggletailed, frayed,
   frazzled, frowzy, frumpish, frumpy, full of holes, grubby, holey,
   in pieces, in rags, in shreds, in tatters, informal, lacerate,
   lacerated, loose, lumpen, mangled, messy, mussy, mutilated,
   negligent, patchy, poky, quartered, ragged, raggedy, ratty, rent,
   riven, ruinous, run-down, scraggly, scruffy, seedy, severed,
   shabby, shoddy, shredded, slack, slatternly, slipshod, slit,
   sloppy, slovenly, sluttish, sordid, splintered, split, squalid,
   tacky, tatty, threadbare, torn, unkempt, unneat, unsightly,
   untidy