The Collaborative International Dictionary of English v.0.48:

Bracer \Bra"cer\, n.
   1. That which braces, binds, or makes firm; a band or
      bandage.
      [1913 Webster]

   2. A covering to protect the arm of the bowman from the
      vibration of the string; also, a brassart. --Chaucer.
      [1913 Webster]

   3. A medicine, as an astringent or a tonic, which gives
      tension or tone to any part of the body. --Johnson.
      [1913 Webster]

WordNet (r) 3.0 (2006):

bracer
    n 1: a protective covering for the wrist or arm that is used in
         archery and fencing and other sports [syn: bracer,
         armguard]
    2: a tonic or restorative (especially a drink of liquor) [syn:
       bracer, pick-me-up]