One who banters or chaffs another. Daly, manager of the Dublin theatre, laid a wager that he would introduce into the language within twenty-four hours a new word of no meaning. Accordingly, on every wall, or all places accessible, were chalked up the four mystic letters, and all Dublin was inquiring what they meant. The wager was won, and the word remains current in our language.
Source: Dictionary of Phrase and Fable, E. Cobham Brewer, 1894
More on Quiz from Fact Monster: