cow and calf
Ⅰ
noun
1
half; thus, 50 pence (half £1). Rhyming slang. Variants are 'cow calf' and 'cows' UK, 1950.
2
a laugh. Rhyming slang. Also used as a verb UK, 1992
Ⅱ ⇨ cow's calf; cow and calf; cow's; calf
noun until 1971, ten shillings; thereafter, fifty pence. Rhyming slang for 'half' (of £1). Pre-decimalisation, mainly reduced to 'calf'; in later C20 'cows' predominates UK, 1941