varsity

[vahr-si-tee]
noun, plural varsities.
1.
any first-string team, especially in sports, that represents a school, college, university, or the like: He is on the varsity in tennis and in debating.
2.
Chiefly British Informal. university.
adjective
3.
of or pertaining to a university or school team, activity, or competition: a varsity debater.

Origin:
1840–50; compare versity university, in 17th century; pronunciation probably preserves historical outcome of Middle English ĕr, as in varmint

intervarsity, adjective
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World English Dictionary
varsity (ˈvɑːsɪtɪ)
 
n , pl -ties
informal (Brit), (NZ), (South African) university, formerly used esp at the universities of Oxford and Cambridge

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Etymonline
Word Origin & History

varsity
1846, "university," variant of earlier versity (1680), shortened form of university.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Furthermore, he ruled that the university's cheerleading did not qualify as a
  varsity sport.
There he went in for running, and made both the freshman and the varsity
  swimming team.
She practiced all spring, and the next fall she was named to the varsity team,
  which went to the final four our senior year.
She did not play varsity sports, even though people were always telling her she
  should.
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