loafer means: Moccasin style classic slip-on shoe with a slotted band at the front. It is attached to the sole of the shoe’s front. The shoe can be called a penny loafer if the strap is made with a nickel inserted into the slot. It is called a tassel top loafer if it has a front tassel. A chain loafer is a shoe that has a metal strap fastened to it. The distinctive hardware design on Gucci(tm), loafers is gold. (in Fashion Dictionary)

What else does loafer mean?

A person who is often idle. (in Merlin Dictionary)