Green’s Dictionary of Slang

cow and calf n.

[rhy. sl.]

1. ten shillings, latterly 50p [i.e. half a £1].

[UK]Dodson & Saczek Dict. of Cockney Rhy. Sl.
[UK]Partridge DSUE (8th edn).

2. (orig. sporting) a half-pint (of beer).

[UK]J. Franklyn Dict. of Rhy. Sl.
[UK]G.D. Smith Cockney Rhy. Sl. 🌐 Cow and Calf: Half (a pint).

3. a laugh.

[UK]S.T. Kendall Up the Frog.
[UK]Dodson & Saczek Dict. of Cockney Rhy. Sl.
[UK]B. Kirkpatrick Wicked Cockney Rhy. Sl.