plait

Short definition from Wiktionary

Noun

1. 1
   A flat fold; a doubling, as of cloth; a pleat.
2. 2
   A braid, as of hair or straw; a plat.

Verb

1. 1
   To fold; to double in narrow folds; to pleat
2. 2
   To interweave the strands or locks of; to braid