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From The Collaborative International Dictionary of English v.0.48:
Paxwax \Pax"wax`\, n. [For faxvax, fr. AS. feax hair (akin to OHG. fahs) + weaxan to grow. See Wax to grow, and cf. Faxed, Pectinate.] (Anat.) The strong ligament of the back of the neck in quadrupeds. It connects the back of the skull with dorsal spines of the cervical vertebr[ae], and helps to support the head. Called also paxywaxy and packwax. [1913 Webster]