Etymology
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collet (n.)

1520s, in jewelery, "the ring or flange in which a jewel or group of jewels is set," from French collet "little collar" (13c.), diminutive of col "neck," from Latin collum "neck" (see collar (n.)). Meaning "a band or collar" is from 1560s.

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Definitions of collet

collet (n.)
a metal cap or band placed on a wooden pole to prevent splitting;
Synonyms: ferrule
collet (n.)
a cone-shaped chuck used for holding cylindrical pieces in a lathe;
Synonyms: collet chuck
collet (n.)
a band or collar that holds an individual stone in a jewelry setting;
From wordnet.princeton.edu