Purse  —n. 1 small pouch for carrying money on the person. 2 us handbag. 3 money, funds. 4 sum as a present or prize in a contest. —v. (-sing) 1 (often foll. By up) pucker or contract (the lips etc.). 2 become wrinkled.  hold the purse-strings have control of expenditure. [greek, = leather bag]