Depends on what you are carving the words into.
3-letter words
age, are, dag, ear, egg, era, erg, gad, gae, gag, gar, ged, rad, rag, red, reg
4-letter words
aged, ager, dare, dear, drag, dreg, egad, gaed, gage, gear, grad, rage, read
5-letter words
agger, eggar, gaged, gager, grade, raged
6-letter words
dagger, ragged
Dagger.
Dagger. Ragged.
You can make dagger or dragged with those letters.
dagger
Look and find out; I found:aadagearedaredeardragearegggadgaggeargradgraderadragragereadred
Two, Dagger and Ragged.
dagger
* Dagger
Dagger.
i can think of a six letter word tho sorry: dagger
Dagger egg
rage dag red gear age dear ear rag aged