The highwayman's hitch is a type of knot

Knot

A knot is a method of fastening or securing linear material such as rope by tying or interweaving. It may consist of a length of one or several segments of rope, string, webbing, twine, strap, or even chain interwoven such that the line can bind to itself or to some other object—the "load"...

. It is an insecure, quick-release, draw loop hitch for trivial use.

History

The knot was allegedly used by highwaymen

Highwayman

A highwayman was a thief and brigand who preyed on travellers. This type of outlaw, usually, travelled and robbed by horse, as compared to a footpad who traveled and robbed on foot. Mounted robbers were widely considered to be socially superior to footpads...

 for a quick getaway when they tied up their horse

Horse

The horse is one of two extant subspecies of Equus ferus, or the wild horse. It is a single-hooved mammal belonging to the taxonomic family Equidae. The horse has evolved over the past 45 to 55 million years from a small multi-toed creature into the large, single-toed animal of today...

s to a carriage

Carriage

A carriage is a wheeled vehicle for people, usually horse-drawn; litters and sedan chairs are excluded, since they are wheelless vehicles. The carriage is especially designed for private passenger use and for comfort or elegance, though some are also used to transport goods. It may be light,...

 they were robbing. However, this whimsical notion is unlikely considering the instability of the hitch.

Alternatives

The Notable Knot Index recommends the Tumble hitch as a more stable hitch. It's almost the same hitch, but less prone to capsizing.