a freshwater crustacean resembling a small lobster; also means to back out of or retreat from something.
From Middle English 'crevisse,' which came from Old French 'crevice.' The 'fish' was added to clarify it was an aquatic creature. The 'backing out' meaning is American slang from the 1800s.
Crawfish farming in Louisiana produces millions annually, and they're beloved in Creole cooking, but the slang meaning 'to crawfish' (back out) comes from watching crawfish move backward—a visual metaphor for cowardly retreat.
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