The Collaborative International Dictionary of English v.0.48:

Gipsy \Gip"sy\ (j[i^]p"s[y^]), n. & a.
   See Gypsy.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Gypsy \Gyp"sy\ (j[i^]p"s[y^]), n.; pl. Gypsies
   (j[i^]p"s[i^]z). [OE. Gypcyan, F. ['e]gyptien Egyptian,
   gypsy, L. Aegyptius. See Egyptian.] [Also spelled gipsy
   and gypsey.]
   1. One of a vagabond race, whose tribes, coming originally
      from India, entered Europe in the 14th or 15th century,
      and are now scattered over Turkey, Russia, Hungary, Spain,
      England, etc., living by theft, fortune telling,
      horsejockeying, tinkering, etc. Cf. Bohemian, Romany.
      [1913 Webster]

            Like a right gypsy, hath, at fast and loose,
            Beguiled me to the very heart of loss. --Shak.
      [1913 Webster]

   2. The language used by the gypsies.
      [1913 Webster]

   3. A dark-complexioned person. --Shak.
      [1913 Webster]

   4. A cunning or crafty person. [Colloq.] --Prior.
      [1913 Webster]

WordNet (r) 3.0 (2006):

gipsy
    n 1: a laborer who moves from place to place as demanded by
         employment; "itinerant traders" [syn: itinerant, gypsy,
         gipsy]
    2: a member of a people with dark skin and hair who speak Romany
       and who traditionally live by seasonal work and
       fortunetelling; they are believed to have originated in
       northern India but now are living on all continents (but
       mostly in Europe, North Africa, and North America) [syn:
       Gypsy, Gipsy, Romany, Rommany, Romani, Roma,
       Bohemian]