Source : Webster's Revised Unabridged Dictionary (1913)

Fob \Fob\, n. [Cf. Prov. G. fuppe pocket.]
   A little pocket for a watch.

   {Fob chain}, a short watch chain worn a watch carried in the
      fob.

Fob \Fob\, v.t. [imp. & p. p. {Fobbed}; p. pr. & vb. n.
   {Fobbing}.] [Cf.Fop.]
   1. To beat; to maul. [Obs.]

   2. To cheat; to trick; to impose on. --Shak.

   {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.

Source : WordNet®

fob
     n 1: a vest pocket to hold a pocket watch [syn: {watch pocket}]
     2: an adornment that hangs from a watch chain
     3: short chain or ribbon attaching a pocket watch to a man's
        vest [syn: {watch chain}, {watch guard}]
     [also: {fobbing}, {fobbed}]

fob
     v : deceive somebody; "We tricked the teacher into thinking that
         class would be cancelled next week" [syn: {trick}, {fox},
          {pull a fast one on}, {play a trick on}]
     [also: {fobbing}, {fobbed}]