Dictionary.com Unabridged

pallet

2 [pal-it]
noun
1.
a small, low, portable platform on which goods are placed for storage or moving, as in a warehouse or vehicle.
2.
a flat board or metal plate used to support ceramic articles during drying.
3.
Horology.
a.
a lever with three projections, two of which intermittently lock and receive impulses from the escape wheel and one which transmits these impulses to the balance.
b.
either of the two projections of this lever that engage and release the escape wheel. See diag. under lever escapement.
4.
a painter's palette.
5.
(on a pawl) a lip or projection that engages with the teeth of a ratchet wheel.
6.
Printing. typeholder.
7.
(in gilding) an instrument used to take up the gold leaves from the pillow and to apply and extend them.
8.
a shaping tool used by potters and consisting of a flat blade or plate with a handle at one end.
9.
Bookbinding.
a.
a tool for decorating the spine of a book.
b.
the stamping of the name of the binder on the inside covers of a book.
verb (used with object), palleted, palleting.

Origin:
1550–60; < Middle French palette small shovel. See palette

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Collins
World English Dictionary
pallet1 (ˈpælɪt)
 
n
1.  a straw-filled mattress or bed
2.  any hard or makeshift bed
 

pallet2 (ˈpælɪt)
 
n
1.  an instrument with a handle and a flat, sometimes flexible, blade used by potters for shaping
2.  a standard-sized platform of box section open at two ends on which goods may be stacked. The open ends allow the entry of the forks of a lifting truck so that the palletized load can be raised and moved about easily
3.  horology the locking lever that engages and disengages alternate end pawls with the escape wheel to give impulses to the balance
4.  a variant spelling of palette
5.  music a flap valve of wood faced with leather that opens to allow air from the wind chest to enter an organ pipe, causing it to sound
 

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Etymonline
Word Origin & History

pallet
"mattress," late 14c., from Anglo-Fr. paillete "straw, bundle of straw," from O.Fr. paillete "chaff," from paille "straw," from L. palea "chaff," cognate with Skt. palavah, O.C.S. pleva, Rus. peleva, Lith. pelus.

pallet
"flat wooden blade" used as a tool by potters, etc., 1558, from M.Fr. palette, dim. of pale "spade, shovel" (see palette). Meaning "large portable tray" used with forklift for moving loads is from 1921.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Reels must be delivered in the upright position suitable for side unloading by
  forklift, and not strapped or palleted.
Reels must be delivered in upright position suitable for side unloading by
  forklift, and not strapped or palleted.
Non-working equipment is palleted and wrapped and set aside for scrapping.
Agencies may reject large brochure shipments that are not palleted when
  installations are not equipped or staffed to handle them.
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