The Collaborative International Dictionary of English v.0.48:

Travesty \Trav"es*ty\, v. t. [imp. & p. p. Travestied; p. pr.
   & vb. n. Travesting.]
   To translate, imitate, or represent, so as to render
   ridiculous or ludicrous.
   [1913 Webster]

         I see poor Lucan travestied, not appareled in his Roman
         toga, but under the cruel shears of an English tailor.
                                                  --Bentley.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Travesty \Trav"es*ty\, a. [F. travesti, p. p. of travestir to
   disguise, to travesty, It. travestire, fr. L. trans across,
   over + vestire to dress, clothe. See Vest.]
   Disguised by dress so as to be ridiculous; travestied; --
   applied to a book or shorter composition. [R.]
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Travesty \Trav"es*ty\, n.; pl. Travesties.
   A burlesque translation or imitation of a work.
   [1913 Webster]

         The second edition is not a recast, but absolutely a
         travesty of the first.                   --De Quincey.
   [1913 Webster]

WordNet (r) 3.0 (2006):

travesty
    n 1: a comedy characterized by broad satire and improbable
         situations [syn: farce, farce comedy, travesty]
    2: a composition that imitates or misrepresents somebody's
       style, usually in a humorous way [syn: parody, lampoon,
       spoof, sendup, mockery, takeoff, burlesque,
       travesty, charade, pasquinade, put-on]
    v 1: make a travesty of