Hobnob

• POS: Verb (usu participle)
• HYPHEN: hob=nob

CIDE DICTIONARY

Hobnob, adv. [AS. habban to have + habban to have not; ne not + habban to have. See Have, and cf. Habnab.].

•  Have or have not; -- a familiar invitation to reciprocal drinking.  Shak.  [1913 Webster]
•  At random; hit or miss. (Obs.)  Holinshed.  [1913 Webster]

Hobnob, v. i. 

•  To drink familiarly (with another).  [1913 Webster]
•  To associate familiarly; to be on intimate terms; as, to hobnob with the political elite.  [1913 Webster]

Hobnob, n. 

 Familiar, social intercourse.  W. Black.  [1913 Webster]

OXFORD DICTIONARY

Hobnob, v.intr. (hobnobbed, hobnobbing)
1 (usu. foll. by with) mix socially or informally.
2 drink together.

Etymology

hob or nob = give or take, of alternate drinking; earlier hab nab, = have or not have