The Collaborative International Dictionary of English v.0.48:

Shanty \Shan"ty\, a.
   Jaunty; showy. [Prov. Eng.]
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Shanty \Shan"ty\, n.;pl. Shanties. [Said to be fr. Ir. sean
   old + tig. a house.]
   A small, mean dwelling; a rough, slight building for
   temporary use; a hut.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Shanty \Shan"ty\, v. i.
   To inhabit a shanty. --S. H. Hammond.
   [1913 Webster]

WordNet (r) 3.0 (2006):

shanty
    n 1: small crude shelter used as a dwelling [syn: hovel,
         hut, hutch, shack, shanty]
    2: a rhythmical work song originally sung by sailors [syn:
       chantey, chanty, sea chantey, shanty]