Real Dictionary

drip-dry
adjective: Drip-dry clothes or sheets are made of a fabric that dries free of creases when it is hung up wet.

drip-dry in American English
designating or of fabrics or garments that dry quickly when hung soaking wet and require little or no ironing
to launder as a drip-dry fabric does
adjective: noting or pertaining to a garment that can be washed, that dries quickly, and that requires little or no ironing
intransitive verb: to dry into a desired form and shape when hung dripping wet after washing
noun: a garment or other cloth item that can be washed and drip-dried
transitive verb: to hang (a cloth item) after washing while it is dripping wet and allow it to dry, esp. in anticipation of its assuming its desired form and shape during the drying process

drip-dry in British English
adjective: designating clothing or a fabric that will dry relatively free of creases if hung up when wet
verb: to dry or become dry thus