What is "to spin street yarn"

Spin \Spin\ (sp[i^]n), v. t. [imp. & p. p. Spun(Archaic imp. Span); p. pr. & vb. n. Spinning.] [AS. spinnan; akin to D. & G. spinnen, Icel. & Sw. spinna, Dan. spinde, Goth. spinnan, and probably to E. span. [root]170. Cf. Span, v. t., Spider.]

1. To draw out, and twist into threads, either by the hand or machinery; as, to spin wool, cotton, or flax; to spin goat's hair; to produce by drawing out and twisting a fibrous material.

   All the yarn she [Penelope] spun in Ulysses' absence did but fill Ithaca full of moths.
   --Shak.

2. To draw out tediously; to form by a slow process, or by degrees; to extend to a great length; -- with out; as, to spin out large volumes on a subject.

   Do you mean that story is tediously spun out?
   --Sheridan.

3. To protract; to spend by delays; as, to spin out the day in idleness.

   By one delay after another they spin out their whole lives.
   --L'Estrange.

4. To cause to turn round rapidly; to whirl; to twirl; as, to spin a top.

5. To form (a web, a cocoon, silk, or the like) from threads produced by the extrusion of a viscid, transparent liquid, which hardens on coming into contact with the air; -- said of the spider, the silkworm, etc.

6. (Mech.) To shape, as malleable sheet metal, into a hollow form, by bending or buckling it by pressing against it with a smooth hand tool or roller while the metal revolves, as in a lathe.

   To spin a yarn (Naut.), to tell a story, esp. a long or fabulous tale.

   To spin hay (Mil.), to twist it into ropes for convenient carriage on an expedition.

   To spin street yarn, to gad about gossiping. [Collog.]