Green’s Dictionary of Slang

1. money.

1879		Nat. Police Gaz. (NY) 18 Oct. 14/3: I’ll put $500 up at the Clipper office — which I believe is the usual ‘toot’ when you bet.
1880		S.A. Mackeever Glimpses of Gotham and City Characters 13/1: There isn’t a man in the country — and I’ll put up $500 at the Clipper office — which I believe is the usual ‘toot’ when you bet — to back it, who has a greater reverence for the genuine article of Religion that I have.
1925		(con. WWI) Fraser & Gibbons Soldier and Sailor Words 288: Toot: Money.
1932		T. Croft Cloven Hoof 41: There are centuries-old words used in the criminal classes [...] ‘rhino’ or ‘toot’ for money.
c.1943		‘Bill O. Lading’ You Chirped a Chinful!! n.p.: Toot: Money.
1950		P. Hoskins No Hiding Place! 192/2: Toot. Money.
1963		N. Dunn Up the Junction 78: I always go up and have a nice dinner Wednesday when me son gives me the toot.

2. a gift.

2017

Mail Online 10 Feb. 🌐 I noticed this diamond bling, gorgeous ring [...] and said ‘your ring is beautiful’, and she said ‘oh this, this is just a bit of toot from Chanel’.