Wiktionary
n. (context US English) An identifying initial, made from cloth, awarded to a member of a varsity team, and intended to be sewn to a piece of clothing
WordNet
n. an award earned by participation in a school sport; "he won letters in three sports" [syn: letter]
Wikipedia
A varsity letter (or monogram) is an award earned in the United States for excellence in school activities. A varsity letter signifies that its winner was a qualified varsity team member, awarded after a certain standard was met.
Usage examples of "varsity letter".
Although Junior Goodwinter looked like a high school sophomore and always wore running shoes and a Pickax varsity letter, he had graduated from journalism school before going to work for his father's newspaper.
I wasn't tall enough for first team but a reliable substitute gets his varsity letter his senior year.
Brian Lipson in his Crane's View varsity letter jacket stood talking to Monica Richardson in front of the town library.
She wore black high heels, a black tank top, and a varsity letter jacket with a big black F across the back.