The Collaborative International Dictionary of English v.0.48:

Chinchilla \Chin*chil"la\, n. [Sp.]
   1. (Zool.) A small rodent (Chinchilla lanigera), of the
      size of a large squirrel, remarkable for its fine fur,
      which is very soft and of a pearly gray color. It is a
      native of Peru and Chili.
      [1913 Webster]

   2. The fur of the chinchilla.
      [1913 Webster]

   3. A heavy, long-napped, tufted woolen cloth.

WordNet (r) 3.0 (2006):

chinchilla
    n 1: the expensive silvery grey fur of the chinchilla
    2: a thick twilled fabric of wool and cotton
    3: small rodent with soft pearly grey fur; native to the Andes
       but bred in captivity for fur [syn: chinchilla, Chinchilla
       laniger]