The Collaborative International Dictionary of English v.0.48:

Parget \Par"get\, v. t. [imp. & p. p. Pargeted; p. pr. & vb.
   n. Pargeting.] [OE. pargeten, also spargeten, sparchen; of
   uncertain origin.]
   1. To coat with parget; to plaster, as walls, or the interior
      of flues; as, to parget the outside of their houses. --Sir
      T. Herbert.
      [1913 Webster]

            The pargeted ceiling with pendants.   --R. L.
                                                  Stevenson.
      [1913 Webster]

   2. To paint; to cover over. [Obs.]
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Pargeting \Par"get*ing\, n. [Written also pargetting.]
   Plasterwork; esp.:
   (a) A kind of decorative plasterwork in raised ornamental
       figures, formerly used for the internal and external
       decoration of houses.
   (b) (In modern architecture), the plastering of the inside of
       flues, intended to give a smooth surface and help the
       draught.
       [1913 Webster]

WordNet (r) 3.0 (2006):

pargeting
    n 1: plaster used to coat outer walls and line chimneys [syn:
         parget, pargeting, pargetting]
    2: ornamental plasterwork [syn: pargeting, pargetting,
       pargetry]
    3: ornamental plastering [syn: pargeting, pargetting]