A chum, a comrade. (Italian zigno, a newt or little lizard.) It generally means un mauvais camarade, unless otherwise qualified. (French argot.)
“Only the bon zig Rac.”—Ouida: Under Two Flags, chap xxv.
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Entry taken from Dictionary of Phrase and Fable, edited by the Rev. E. Cobham Brewer, LL.D. and revised in 1895.