Ummmm ... eighty? Or maybe you are thinking about a definition not included in the usual dictionaries? My Webster's has the same definition as onelook's from 1913 -- a piece of wood, shell, stone or other substance worn in a perforation of the lip or cheek -- but onelook comments that the definition might be outdated. (Ah - I see that Encarta says that the term is from the mid-19th century, from the Latin labrum for "lip", so if you know anybody who is 150 years old ...)

As to onelook's concern, I'm guessing that the term is not outdated, with the current popularity of piercings.