The Collaborative International Dictionary of English v.0.48:

Tabasco sauce \Ta*bas"co sauce\ [So named after Tabasco, a river
   and state of Mexico.]
   A kind of very pungent sauce made from red peppers.
   [Webster 1913 Suppl.]

WordNet (r) 3.0 (2006):

Tabasco sauce
    n 1: very spicy sauce (trade name Tabasco) made from fully-aged
         red peppers [syn: Tabasco, Tabasco sauce]