Green’s Dictionary of Slang

cotton wool v.

[rhy. sl.]

1. (Aus. prison) to masturbate [= pull v. (8)].

1990

Tupper & Wortley Aus. Prison Sl. Gloss. 🌐 Cotton wool. To masturbate. Rhyming slang for pull.

2. to seduce [= pull v. (2f)].

1998