1: An old English word meaning to perfect something (make it perfect).
2: An old English word meaning to be perfect.
Example 1
Chap 1: I'd like to order an ice cream, and please, make it terrique.
Ice cream man: Sho' thing.
Example 2
Gentleman 1: Look at this fancy cake for my wedding, ol' chap.
Gentleman 2: Is it terrique? You want your bride and guests to have a good dessert.