The Collaborative International Dictionary of English v.0.48:

Taunt \Taunt\, a. [Cf. OF. tant so great, F. tant so much, L.
   tantus of such size, so great, so much.] (Naut.)
   Very high or tall; as, a ship with taunt masts. --Totten.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Taunt \Taunt\, v. t. [imp. & p. p. Taunted; p. pr. & vb. n.
   Taunting.] [Earlier, to tease; probably fr. OF. tanter to
   tempt, to try, for tenter. See Tempt.]
   To reproach with severe or insulting words; to revile; to
   upbraid; to jeer at; to flout.
   [1913 Webster]

         When I had at my pleasure taunted her.   --Shak.
   [1913 Webster]

   Syn: To deride; ridicule; mock; jeer; flout; revile. See
        Deride.
        [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Taunt \Taunt\, n.
   Upbraiding language; bitter or sarcastic reproach; insulting
   invective.
   [1913 Webster]

         With scoffs, and scorns, and contemelious taunts.
                                                  --Shak.
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         With sacrilegious taunt and impious jest. --Prior.
   [1913 Webster]

WordNet (r) 3.0 (2006):

taunt
    n 1: aggravation by deriding or mocking or criticizing [syn:
         twit, taunt, taunting]
    v 1: harass with persistent criticism or carping; "The children
         teased the new teacher"; "Don't ride me so hard over my
         failure"; "His fellow workers razzed him when he wore a
         jacket and tie" [syn: tease, razz, rag, cod,
         tantalize, tantalise, bait, taunt, twit, rally,
         ride]