Wordnet 3.0
NOUN (1)
1. 
 a dough-like mixture of whiting and boiled linseed oil; 
 used especially to patch woodwork or secure panes of glass; 
VERB (1)
1. 
 apply putty in order to fix or fill; 
- Example: "putty the window sash"
The Collaborative International Dictionary of English v.0.48:
Puttee \Put"tee\, [Hind. pa[.t][.t]i ribbon, brace, tie.]
   A kind of gaiter of waterproof cloth wrapped around the leg,
   used by soldiers, etc. [Written also putty, puttie.]
   [Webster 1913 Suppl.]
The Collaborative International Dictionary of English v.0.48:
Putty \Put"ty\, n.; pl. Putties. [Written also puttee,
   puttie.] [Hind. pa[.t][.t]i ribbon, brace, tie.]
   A kind of gaiter of waterproof cloth wrapped around the leg,
   used by soldiers, etc.
   [Webster 1913 Suppl.]
The Collaborative International Dictionary of English v.0.48:
Putty \Put"ty\, v. t. [imp. & p. p. Puttied; p. pr. & vb. n.
   Puttying.]
   To cement, or stop, with putty.
   [1913 Webster]
The Collaborative International Dictionary of English v.0.48:
Putty \Put"ty\, n. [F. pot['e]e, fr. pot pot; what was formerly
   called putty being a substance resembling what is now called
   putty powder, and in part made of the metal of old pots. See
   Pot.]
   1. A kind of thick paste or cement compounded of whiting, or
      soft carbonate of lime, and linseed oil, when applied
      beaten or kneaded to the consistence of dough, -- used in
      fastening glass in sashes, stopping crevices, and for
      similar purposes.
      [1913 Webster]
   2. (Golf) A ball made of composition and not gutta percha.
      [Colloq.]
      [Webster 1913 Suppl.]
   Putty powder, an oxide of tin, or of tin and lead in
      various proportions, much used in polishing glass, metal,
      precious stones, etc.
      [1913 Webster]
WordNet (r) 3.0 (2006):
putty
    n 1: a dough-like mixture of whiting and boiled linseed oil;
         used especially to patch woodwork or secure panes of glass
    v 1: apply putty in order to fix or fill; "putty the window
         sash"