From The Collaborative International Dictionary of English v.0.48:
Fob \Fob\ (f[o^]b), n. [Cf. Prov. G. fuppe pocket.]
1. A little pocket for a watch; -- callled also a watch
pocket.
[1913 Webster]
2. a short chain or ribbon attached to a pocket watch,
usually worn hanging out of the watch pocket, and used to
conveniently remove the watch from the watch pocket.
[PJC]
Fob chain, a short watch chain worn with a watch carried in
the fob; a fob[2].
[1913 Webster]
From The Collaborative International Dictionary of English v.0.48:
Fob \Fob\, v. t. [imp. & p. p. Fobbed; p. pr. & vb. n.
Fobbing.] [Cf.Fop.]
[1913 Webster]
1. To beat; to maul. [Obs.]
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2. To cheat; to trick; to impose on. --Shak.
[1913 Webster]
To fob off, to shift off by an artifice; to put aside; to
delude with a trick."A conspiracy of bishops could
prostrate and fob off the right of the people." --Milton.
[1913 Webster]