The Collaborative International Dictionary of English v.0.48:

Novelty \Nov"el*ty\, n.; pl. Novelties. [OF. novelt['e], F.
   nouveaut['e], L. novellitas.]
   1. The quality or state of being novel; newness; freshness;
      recentness of origin or introduction.
      [1913 Webster]

            Novelty is the great parent of pleasure. --South.
      [1913 Webster]

   2. Something novel; a new or strange thing.
      [1913 Webster]

   3. A small mass-produced article of little value; a
      knickknack.

   Syn: knickknack.
        [WordNet 1.5]

WordNet (r) 3.0 (2006):

novelty
    n 1: originality by virtue of being refreshingly novel [syn:
         freshness, novelty]
    2: originality by virtue of being new and surprising [syn:
       novelty, freshness]
    3: a small inexpensive mass-produced article [syn: knickknack,
       novelty]
    4: cheap showy jewelry or ornament on clothing [syn: bangle,
       bauble, gaud, gewgaw, novelty, fallal, trinket]

Moby Thesaurus II by Grady Ward, 1.0:

65 Moby Thesaurus words for "novelty":
   advance guard, authenticity, avant-garde, bauble, brand-newness,
   callowness, craze, creativeness, creativity, dewiness, fad,
   faddiness, faddishness, faddism, faddist, freshness, gewgaw,
   gimcrack, gimmick, gloss of novelty, greenness, immaturity,
   innovation, innovativeness, intactness, inventiveness, kickshaw,
   lateness, latest fad, latest fashion, latest wrinkle, maidenhood,
   mint condition, new look, newbornness, newfangled device,
   newfangledness, newfangleness, newness, nonimitation, novelness,
   nowness, originality, ornament, plaything, presentness,
   pristineness, rage, rawness, recency, recentness, strangeness,
   the in thing, the last word, the latest thing, toy, trifle,
   trinket, uncommonness, unfamiliarity, uniqueness, unusualness,
   vanguard, virginity, wrinkle



U.S. Gazetteer Places (2000):

Novelty, MO -- U.S. village in Missouri
   Population (2000):    119
   Housing Units (2000): 66
   Land area (2000):     0.276614 sq. miles (0.716426 sq. km)
   Water area (2000):    0.000000 sq. miles (0.000000 sq. km)
   Total area (2000):    0.276614 sq. miles (0.716426 sq. km)
   FIPS code:            53516
   Located within:       Missouri (MO), FIPS 29
   Location:             40.012209 N, 92.207594 W
   ZIP Codes (1990):     63460
   Note: some ZIP codes may be omitted esp. for suburbs.
   Headwords:
    Novelty, MO
    Novelty