Kitty Fisher found it;
Not a penny was there in it,
Only ribbon ‘round it.
Lucy Locket is believed to have been a
barmaid at a
pub, The Cock, on Fleet Street in London in the mid-1700s, and
explanations of the rhyme exist.
explanation is similar, but
involves a play on words. ‘Locket’ and
‘pocket’ were both slang terms for a vagina.
The idea was that while Kitty Fisher could live in high
style by selling
herself, Lucy—and girls like her--could not.