The Collaborative International Dictionary of English v.0.48:

Slashed \Slashed\, a.
   1. Marked or cut with a slash or slashes; deeply gashed;
      especially, having long, narrow openings, as a sleeve or
      other part of a garment, to show rich lining or under
      vesture.
      [1913 Webster]

            A gray jerkin, with scarlet and slashed sleeves.
                                                  --Sir W.
                                                  Scott.
      [1913 Webster]

   2. (Bot.) Divided into many narrow parts or segments by sharp
      incisions; laciniate.
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Slash \Slash\, v. t. [imp. & p. p. Slashed; p. pr. & vb. n.
   Slashing.] [OE. slaschen, of uncertain origin; cf. OF.
   esclachier to break, esclechier, esclichier, to break, and E.
   slate, slice, slit, v. t.]
   1. To cut by striking violently and at random; to cut in long
      slits.
      [1913 Webster]

   2. To lash; to ply the whip to. [R.] --King.
      [1913 Webster]

   3. To crack or snap, as a whip. [R.] --Dr. H. More.
      [1913 Webster]

WordNet (r) 3.0 (2006):

slashed
    adj 1: patterned by having color applied with sweeping strokes;
           "brown iris...slashed with yellow"- Willa Cather
    2: having long and narrow ornamental cuts showing an underlying
       fabric; "a slashed doublet"; "slashed cuffs showing the
       scarlet lining"
    3: (used of rates or prices) reduced usually sharply; "the
       slashed prices attracted buyers" [syn: cut, slashed]