The Collaborative International Dictionary of English v.0.48:

Rosy \Ros"y\, a. [Compar. Rosier; superl. Rosiest.]
   Resembling a rose in color, form, or qualities; blooming;
   red; blushing; also, adorned with roses.
   [1913 Webster]

         A smile that glowed
         Celestial rosy-red, love's proper hue.   --Milton.
   [1913 Webster]

         While blooming youth and gay delight
         Sit thy rosy cheeks confessed.           --Prior.
   [1913 Webster]

   Note: Rosy is sometimes used in the formation of
         self?xplaining compounde; as, rosy-bosomed,
         rosy-colored, rosy-crowned, rosy-fingered, rosy-tinted.
         [1913 Webster]

   Rosy cross. See the Note under Rosicrucian, n.
      [1913 Webster]

WordNet (r) 3.0 (2006):

rosy
    adj 1: reflecting optimism; "a rosy future"; "looked at the
           world through rose-colored glasses" [syn: rose-colored,
           rosy]
    2: having the pinkish flush of health [syn: flushed, rose-
       cheeked, rosy, rosy-cheeked]
    3: of blush color; "blushful mists" [syn: blushful, rosy]
    4: presaging good fortune; "she made a fortunate decision to go
       to medical school"; "rosy predictions" [syn: fortunate,
       rosy]