fob (n.) Look up fob at Dictionary.com
1650s, "small pocket for valuables," probably related to Low German fobke "pocket," High German fuppe "pocket," "a dialectal word used in Livonia" [Klein]. Meaning "chain attached to a watch carried in the fob" is from 1885.
fob (v.) Look up fob at Dictionary.com
"to cheat," late 14c., from obsolete noun fobbe "cheat, trickster" (late 14c.), which is perhaps from Old French forbe "cheat" [OED]. Alternative etymology holds that the word is perhaps related to German foppen "to jeer at, make a fool of" (see fop); or from German fuppen, einfuppen "to pocket stealthily," which would connect it to fob (n.). To fob (someone) off is first recorded 1590s. Related: Fobbed; fobbing.