Formal or literary term for an elderly woman. Often used in written or elevated contexts; the everyday word is 老女 or おばあさん.
See also: 老翁
その老媼は静かに微笑んだ。
The old woman smiled quietly.
Composed of 老 (old) and 媼 (old woman). The character 媼 is a classical Chinese term for an elderly woman, and the compound is used in formal or literary Japanese.