The Collaborative International Dictionary of English v.0.48:

Corset \Cor"set\ (k?r"s?t), n. [F., dim. of OF. cors, F. corps,
   body. See Corse.]
   1. In the Middle Ages, a gown or basque of which the body was
      close fitting, worn by both men and women.
      [1913 Webster]

   2. An article of dress inclosing the chest and waist worn
      (chiefly by women) to support the body or to modify its
      shape; stays.
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Corset \Cor"set\ (k?r"s?t), v. t. [imp. & p. p. Corseted; p.
   pr. & vb. n. Corseting.]
   To inclose in corsets.
   [1913 Webster]

WordNet (r) 3.0 (2006):

corset
    n 1: a woman's close-fitting foundation garment [syn: corset,
         girdle, stays]
    v 1: dress with a corset