The Collaborative International Dictionary of English v.0.48:

Wearable \Wear"a*ble\, a.
   Capable of being worn; suitable to be worn.
   [1913 Webster]

WordNet (r) 3.0 (2006):

wearable
    adj 1: suitable for wear or able to be worn; "wearable evening
           clothes"; "a wearable hearing aid" [ant: unwearable]
    n 1: a covering designed to be worn on a person's body [syn:
         clothing, article of clothing, vesture, wear,
         wearable, habiliment]