Etymology

The firm of Furphy and Sons (still in business todayhttp://www.furphys.com.au) manufactured and supplied water cartshttp://www.furphys.com.au/legend/water-cart.html to the Australian Imperial Force in Egypt during World War I. Soldiers stood around these and talked, exchanging rumours and news. The manufacturer's name, which was emblazoned on the carts, was soon adopted for unreliable information or speculation. (Reference: The Lingo: Listening to Australian English, Graham Seal, University of New South Wales Press, 1999, ISBN 086840-680-5, page 59.)

Noun

1. a rumour, or an erroneous or improbable story.