Longman Dictionary of Contemporary English
The Collaborative International Dictionary
Bag lady \Bag" la`dy\, n. a homeless woman who carries all her possessions with her in bags.
Wiktionary
alt. (context informal English) A homeless woman who carries her possessions with her in bags. n. (context informal English) A homeless woman who carries her possessions with her in bags.
WordNet
n. a homeless woman who carries all her possessions with her in shopping bags
Wikipedia
"Bag Lady" is the first single from singer Erykah Badu's 2000 album Mama's Gun. The song is about a woman who is trying to begin a new relationship but has too much emotional "baggage" and can't get close to people. The message of the song is to "pack light" and have hope for the future. The song was a success on the charts, entering the Billboard Top Ten and peaking at number six; it topped the Hot R&B/Hip-Hop Songs Charts for seven weeks.
To date, this is the last single released by Motown Records to reach number-one on the R&B chart under the original banner of the label before merging with Universal. It earned Badu two nominations at the 43rd Grammy Awards: Best Female R&B Vocal Performance and Best R&B Song.
Usage examples of "bag lady".
Marines in full uniform minus swords or sidearms, standing at ease and listening with respectful attention to a bag lady.
Now she resembled a bag lady, used to living under train trestles and eating out of cast-iron pots.
Last year I was on a stakeout, dressed up like a bag lady, and I got mugged.
With her shoulders slumped and with an assumed, crazy, empty look in her eyes, she pushed the cart, wheels squeaking, through the drizzle, a bag lady on her way to a shelter for the homeless that she had just passed.