The Collaborative International Dictionary of English v.0.48:
Goatee \Goat`ee"\, n. A part of a man's beard on the chin or lower lip which is allowed to grow, and trimmed so as to resemble the beard of a goat. [1913 Webster]WordNet (r) 3.0 (2006):
goatee n 1: a small chin beard trimmed to a point; named for its resemblance to a goat's beard