A small can or drinking vessel, especially a small tankard or cup.
From can (a vessel) + -ikin (a diminutive suffix from Dutch/German), creating a word meaning 'little can' that emerged in English during the 16th-17th centuries.
The -ikin suffix came from Dutch merchants and craftspeople and was so useful that English adopted it for dozens of words—canikin, lambkin, catkin—showing how trade literally imports new grammar!
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