Wikipedia
Palazzo pants (British English = Palazzo trousers) are long women's trousers cut with a loose, extremely wide leg that flares out from the waist.
Palazzo trousers are popular as a summer season style, as they are loose and tend to be flattering in light, flowing fabrics that are breathable in hot weather. Silk crepe/crape, jersey, and other natural fibre textiles are popular fabrics for this design. Palazzo trousers are less frequently seen during the winter months, but they may be found in wool or heavy synthetic fabrics as well.
Usage examples of "palazzo pants".
Her maternity outfit was a pale gray washable silk, palazzo pants, a long tunic, with tricky buttons and flaps.
Naira looked exotic in her sheer purple palazzo pants and a black and gold tapestry vest, her dark curls threaded with thin gold ribbons.
Chic and glamorous, she wore a charcoal lace-and-beadwork cardigan with palazzo pants pleated in the front under a black, knee-length imitation fur coat.