pon·cho \ˈpän(ˌ)chō\noun (-s) Etymology: American Spanish, from Araucanian pontho woolen fabric 1.: a cloak resembling a blanket with a slit in the middle for the head worn chiefly by Spanish Americans 2.: a garment made like a poncho and usually of rubber, waterproofed, cloth, or plastic for wear chiefly as a raincoat