The Collaborative International Dictionary of English v.0.48:

Pare \Pare\, v. t. [imp. & p. p. Pared; p. pr. & vb. n.
   Paring.] [F. parer to pare, as a horse's hoofs, to dress or
   curry, as, leather, to clear, as anchors or cables, to parry,
   ward off, fr. L. parare to prepare. Cf. Empire, Parade,
   Pardon, Parry, Prepare.]
   1. To cut off, or shave off, the superficial substance or
      extremities of; as, to pare an apple; to pare a horse's
      hoof.
      [1913 Webster]

   2. To remove; to separate; to cut or shave, as the skin,
      rind, or outside part, from anything; -- followed by off
      or away; as, to pare off the rind of fruit; to pare away
      redundancies.
      [1913 Webster]

   3. Fig.: To diminish the bulk of; to reduce; to lessen.
      [1913 Webster]

            The king began to pare a little the privilege of
            clergy.                               --Bacon.
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Paring \Par"ing\, n. [From Pare, v. t.]
   1. The act of cutting off the surface or extremites of
      anything.
      [1913 Webster]

   2. That which is pared off. --Pope.
      [1913 Webster]

            Pare off the surface of the earth, and with the
            parings raise your hills.             --Mortimer.
      [1913 Webster]

WordNet (r) 3.0 (2006):

paring
    n 1: a thin fragment or slice (especially of wood) that has been
         shaved from something [syn: paring, sliver, shaving]
    2: (usually plural) a part of a fruit or vegetable that is pared
       or cut off; especially the skin or peel; "she could peel an
       apple with a single long paring"