Definition: (noun) - Used as a noun (even though the word is actually the feminine past participle of a verb), giclée refers to a type of art print created by spraying. Yes, indeed - giclée prints come right out of a computer peripheral. Naturally, your standard DeskJet won't do. No, we mean a printer that costs a hefty price, and contains many different ink cartridges (at even more expense) that work in unison to produce a high-quality print.
Now, should you wish to hear if giclée prints are a worthwhile investment, I cannot supply you with that information. They are touted as such. However, they haven't been in existence long enough to say definitively that the inks used are durable. (In other words: Caveat emptor.) We can all agree, though, that the word "giclée" sounds a lot more important than "ink-jet print".