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kite

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kite
I
kite1 /kaɪt/ noun [countable]
 Language: Old English
 Origin: cyta
1. a light frame covered in coloured paper or plastic that you let fly in the air on the end of one or two long strings
2. a type of hawk (=bird that eats small animals)
3. American English informal an illegal cheque
4. fly a kite to make a suggestion to see what people will think of it
go fly a kite at fly1(24), ⇨ high as a kite at high1(24)

II
kite2 verb [intransitive and transitive] American English informal
1. (also kite up) to raise the cost of something
   SYN  hike up:
    Soaring medical costs keep kiting up insurance premiums.
2. to obtain money using an illegal cheque