peplum
noun
[ ˈpɛpləm ]
• a short gathered or pleated strip of fabric attached at the waist of a woman's jacket, dress, or blouse to create a hanging frill or flounce.
• "a little black dress with a peplum over a straight skirt"
• (in ancient Greece) a woman's loose outer tunic or shawl.
Origin:
late 17th century: via Latin from Greek peplos .