From The Collaborative International Dictionary of English v.0.48:

Gypsy \Gyp"sy\ (j[i^]p"s[y^]), n.; pl. Gypsies
   (j[i^]p"s[i^]z). [OE. Gypcyan, F. ['e]gyptien Egyptian,
   gypsy, L. Aegyptius. See Egyptian.] [Also spelled gipsy
   and gypsey.]
   1. One of a vagabond race, whose tribes, coming originally
      from India, entered Europe in the 14th or 15th century,
      and are now scattered over Turkey, Russia, Hungary, Spain,
      England, etc., living by theft, fortune telling,
      horsejockeying, tinkering, etc. Cf. Bohemian, Romany.
      [1913 Webster]

            Like a right gypsy, hath, at fast and loose,
            Beguiled me to the very heart of loss. --Shak.
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   2. The language used by the gypsies.
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   3. A dark-complexioned person. --Shak.
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   4. A cunning or crafty person. [Colloq.] --Prior.
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