If something is shaveable, it means it can be shaved or cut with a razor or a sharp tool.
The word shaveable is usually used for things like hair or soft materials that can be cut easily.
Examples:
This fabric is shaveable.
The sheep's wool is shaveable.
The shaveable paper was easy to cut.
I didn't know this was shaveable!
His beard is so long, it's shaveable with a big razor.
The shaveable ice was easy to cut into a shape.