'Pantaloon' definitions:

Definition of 'Pantaloon'

noun

A buffoon in modern pantomimes; the butt of jokes

noun

A character in the commedia dell'arte; portrayed as a foolish old man

noun

Trousers worn in former times

From: GCIDE

Pantaloon \Pan`ta*loon"\, n. [F. pantalon, fr. It. pantalone, a masked character in the Italian comedy, who wore breeches and stockings that were all of one piece, from Pantaleone, the patron saint of Venice, which, as a baptismal name, is very frequent among the Venetians, and is applied to them by the other Italians as a nickname, fr. Gr. Pantale`wn, lit., all lion, a Greek personal name.]
1. A ridiculous character, or an old dotard, in the Italian comedy; also, a buffoon in pantomimes. --Addison. [1913 Webster]
The sixth age shifts Into the lean and slippered pantaloon. --Shak. [1913 Webster]
2. pl. A bifurcated garment for a man, covering the body from the waist downwards, and consisting of breeches and stockings in one. [1913 Webster]
3. pl. In recent times, a loose-fitting variety of Trousers, often of less than ankle length. [1913 Webster +PJC]