Origin of Phrases - P
Pop Goes The Weasel
A small-time English music hall singer, who made his living as a tailor, came up with this song (or whatever you call it) in the 1800s. A "weasel" is a tailor's flatiron. When the tailor lost all of his money he pawned the iron. Pawning things had a term of its own at the time, "popping." Hence, pop goes the weasel.