Webster's Revised Unabridged Dictionary · 1913

Hobnob

Hobnob , adverb

[Anglo-Saxon habban to have + habban to have not; ne not + habban to have. See Have, and compare Habnab.]

1.
Have or have not; -- a familiar invitation to reciprocal drinking. — Shakespeare
2.
At random; hit or miss. (Obs.) — Holinshed

Hobnob , intransitive verb

1.
To drink familiarly (with another).
2.
To associate familiarly; to be on intimate terms; as, to hobnob with the political elite.

Hobnob , noun

Familiar, social intercourse. — W. Black