pencil (Noun) — A thin cylindrical pointed writing implement; a rod of marking substance encased in wood.
pencil (Noun) — Graphite (or a similar substance) used in such a way as to be a medium of communication. ex. "the words were scribbled in pencil" ex. "this artist's favourite medium is pencil"
pencil (Noun) — (geometry) a figure formed by a set of straight lines or light rays meeting at a point.
pencil (Noun) — A cosmetic in a long thin stick; designed to be applied to a particular part of the face. ex. "an eyebrow pencil"
pencil (Verb) — Write, draw, or trace with a pencil. ex. "he penciled a figure"