Green’s Dictionary of Slang

Peter Funk n.

also Funk, Peter Funker
[a generic proper name, orig. Ger./Du.]

1. [mid–late 19C] (US) a fraudulent salesman, often operating in the guise of an auctioneer, who augments the appeal of their third-rate merchandise by intimating that it had in some way been acquired illegally.

2. in fig. use of sense 1.

3. attrib. use of sense 1.

In derivatives

Peter Funkism (n.)

[mid-19C] a form of swindling.