say it: lays
lace is a verb and noun meaning "spin, wind, or twist together". It carries 7 recorded senses.
a delicate decorative fabric woven in an open web of symmetrical patterns
Forms marked · are formed by the regular rule rather than recorded in the source data. English keeps a few hundred irregulars and the rest follow the pattern, so the rule is right far more often than not — but it is a rule, and the mark says so.
Definitions, synonyms and semantic relations for lace come from Princeton University’s WordNet. The pronunciation comes from the CMU Pronouncing Dictionary. Commonness is measured against a corpus of everyday English. Full sources and licences.