CARAT/KARAT/CARET/CARROT A carat is a unit of weight applied to gemstones. The proportion of gold in an alloy is measured in karats, the purest gold being 24-karat. A caret is a copyediting and proofreading symbol (it looks like this: ^) showing where new text is to be inserted into an already set line. Carrots are what Bugs Bunny eats.