Valance \Val"ance\, n. [Perhaps fr. OF. avalant descending, hanging down, p. pr. of avaler to go down, let down, descent (cf. Avalanche); but probably from the town of Valence in France.]

1. Hanging drapery for a bed, couch, window, or the like, especially that which hangs around a bedstead, from the bed to the floor. [Written also valence.]

Valance of Venice gold in needlework. --Shak.

2. The drooping edging of the lid of a trunk. which covers the joint when the lid is closed.

Source: Webster's Revised Unabridged Dictionary (1913)
 

Valance \Val"ance\, v. t. [imp. & p. p. Valanced; p. pr. & vb. n. Valancing.]

To furnish with a valance; to decorate with hangings or drapery.

His old fringed chair valanced around with party-colored worsted bobs. --Sterne.

Source: Webster's Revised Unabridged Dictionary (1913)