Toast

noun

1. Toasted bread.

   "I ate a piece of toast for breakfast."

2. A proposed salutation (e.g. to say "cheers") while drinking alcohol.

   "At the reception, there were many toasts from the well-wishers."

3. A person, group, or notable object to which a salutation with alcohol is made; a person or group held in similar esteem.

   "He was the toast of high society."

4. (chiefly US) Something that will be no more; something subject to impending destruction, harm or injury.

   "If I ever get my hands on the guy that stole my wallet, he’s toast!"

5. Extemporaneous narrative poem or rap.