spanker

[spang-ker]
noun
1.
Nautical.
a.
a fore-and-aft sail on the aftermost lower mast of a sailing vessel having three or more masts. See diag. under ship.
b.
a designation given to the mast abaft a mizzenmast, usually the aftermost mast in any vessel.
2.
Informal. a smartly moving person or animal, especially a fast horse.
3.
Chiefly New England. something remarkably fine.
adjective Nautical.
4.
of or pertaining to a spanker mast or its rigging.

Origin:
1745–55; akin to spanking

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World English Dictionary
spanker (ˈspæŋkə)
 
n
1.  nautical a fore-and-aft sail or a mast that is aftermost in a sailing vessel
2.  informal a person or animal that moves at a quick smart pace
3.  informal something outstandingly fine or large

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Example sentences
The triangular sails are called jibs or staysails, and the large sail at the stern is called the spanker.
Standing forward of the wheel and the fancy cabin skylight, the boom of the spanker sail looms overhead.
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