Rendering of the word potato in the dialect of the American south. Sometimes used as a term of endearment in the region, usually for a child.

A slang term, rarely used nowadays, for a home run in baseball. Interchangeable with dinger, bomb, and homer, although "homer" is easily the most common term from baseball announcers and fans alike.

According to Merriam-Webster on-line, the term "tater" may have originated in the Negro Leagues of Professional Baseball early in the 20th century, where a home run was called a potato or long potato.

Example usage:

"How'd Clemente do today?"
"Coupla taters, four ribbies."

Sources: http://www.m-w.com/wftw/02may/050602.htm