A method of deceiving seamen, by fixing a candle and lanthorn round the neck of a horse, one of whose fore feet is tied up; this at night has the appearance of a ship’s light. Ships bearing towards it, run on shore, and being wrecked, are plundered by the inhabitants. This diabolical device is, it is said, practised by the inhabitants of our western coasts.
Definition taken from The 1811 Dictionary of the Vulgar Tongue, originally by Francis Grose.
Jew’s Eye * JigNathan Bailey's 1736 Dictionary of canting and thieving slang
John S. Farmer's collection of canting songs and slang rhymes