To stab or wound with a small sword: probably derived from the holes formerly cut in both men and women’s clothes, called pinking. Pink of the fashion; the top of the mode. To pink and wink; frequently winking the eyes through a weakness in them.
Definition taken from The 1811 Dictionary of the Vulgar Tongue, originally by Francis Grose.
Pinchers * Pinking-dindeeNathan Bailey's 1736 Dictionary of canting and thieving slang
John S. Farmer's collection of canting songs and slang rhymes