This is cockney rhyming slang. I couldn’t possibly say what for, you will have to ask Welshy, she uses that word all the time.
The reason I am speaking (fluent) cockney is because Molly recently commented that she hated Londoners. I really need to have a word with that girl – she precipitated a massive row last time with her insensitive behaviour towards Americans, and if I am not careful I will have Londoners puling and whining about how they are all right really and the only reason they are often unfriendly is because they are busy and important. Actually I think I have made this observation already recently, I will have to be careful about what I say in case people thing I am anti-London.
Anyway, here is a photo that I took recently at Stansted Airport that I think perfectly encapsulates the London attitude: