Verb:
1. To cut or shape (something, especially wood) by repeatedly shaving off small pieces with a knife.
* _He whittled a toy boat from a piece of driftwood._
2. To reduce or diminish gradually.
* _The recession has whittled away at our savings._
3. To waste or fritter away (time or resources).
* _They whittled away the afternoon playing games._
Noun:
1. A small, pointed knife used for whittling.
* _He carried a whittle in his pocket._
Origin:
From Old English *hwītan* "to make white, to polish," from *hwīt* "white." The whittling process often involved shaping wood to make it smooth and white.