Definitions
1.nounA liquid which converts lead to gold.
2.nounA substance or liquid which is believed to cure all ills and give eternal life.
3.noun(by extension) The alleged cure for all ailments; cure-all, panacea.
4.nounA sweet flavored liquid (usually containing a small amount of alcohol) used in compounding medicines to be taken by mouth in order to mask an unpleasant taste.