knickers / nickers [ˈnɪkɜrs]
knickers – n. pl. – an undergarment for women covering the lower trunk and sometimes the thighs and having separate legs or leg-holes (short for knickerbockers)
nickers – n. & v. – n. pl. of nicker – 1. a fabulous water monster, water sprite, nix; 2. one that nicks, i.e. (a) one of the 18th century night brawlers of London noted for breaking windows with halfpence; (b) an operator of a machine for making cuts on the curved edge of shoe vamps, etc., also called a snipper; 3. Brit. slang one-pound sterling; v. – 1. to neigh gently, whicker; 2. snicker