The word giclée was appropriated by Jack Duganne, a printmaker working at Nash Editions. He wanted a name for the new type of prints they were producing on the IRIS printer, a large-format, high-resolution industrial prepress proofing inkjet printer they had adapted for fine-art printing. He was specifically looking for a word that would not have the negative connotations of "inkjet" or "computer generated". It is based on the French word gicleur, which means "nozzle" (the verb form gicler means "to squirt, spurt, or spray"). An unintended consequence of Duganne's choice of name was its problematic use in the French language since it is also modern French slang for male ejaculation.
Source: http://en.wikipedia.org/wiki/Giclee