More specifically, it's usually a little red-and-white ball (similar in appearance and function, but not in construction, to a "pokéball".) It is tied to a fishing line above the hook and weight in order to hold the bait above the ground and keep it from getting entangled in any aquatic vegetation or other obstacles.
Bob"ber (?), n.
One who, or that which, bobs.
© Webster 1913.
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