What is Loaf ?
Loaf is (noun) 1. a large single piece of bread, which you can cut into slices before eating it He bought a loaf of bread at the baker’s. We eat about 10 loaves of bread per week. 2. a head, brains (informal.) Use your loaf – it’s obvious what she wants. (NOTE: From loaf of bread which means ‘head’ in rhyming slang; see also rhyming slang.) (verb) to loaf around to hang around, doing nothing He hasn’t any proper job and just loafs around Leicester Square all day.
source: Easier English, Student Dictionary Upper Intermediate Level