It is the term applied to a one-year-old sheep.
( It ( ( is ( ( the term ) ( applied ( to ( a ( one-year-old sheep ) ) ) ) ) ) . ) )
(ROOT (S (NP (PRP It)) (VP (VBZ is) (NP (NP (DT the) (NN term)) (VP (VBN applied) (PP (TO to) (NP (DT a) (JJ one-year-old) (NN sheep)))))) (. .)))
A sheep who has lived for one year may be called a little whitey.
( ( ( A sheep ) ( who ( has ( lived ( for ( one year ) ) ) ) ) ) ( ( may ( be ( called ( a ( little whitey ) ) ) ) ) . ) )
(ROOT (S (NP (NP (DT A) (NN sheep)) (SBAR (WHNP (WP who)) (S (VP (VBZ has) (VP (VBN lived) (PP (IN for) (NP (CD one) (NN year)))))))) (VP (MD may) (VP (VB be) (VP (VBN called) (NP (DT a) (JJ little) (NN whitey))))) (. .)))