The Collaborative International Dictionary of English v.0.48:

Bobbin \Bob"bin\, n. [F. bobine; of uncertain origin; cf. L.
   bombus a humming, from the noise it makes, or Ir. & Gael.
   baban tassel, or E. bob.]
   1. A small pin, or cylinder, formerly of bone, now most
      commonly of wood, used in the making of pillow lace. Each
      thread is wound on a separate bobbin which hangs down
      holding the thread at a slight tension.
      [1913 Webster]

   2. A spool or reel of various material and construction, with
      a head at one or both ends, and sometimes with a hole
      bored through its length by which it may be placed on a
      spindle or pivot. It is used to hold yarn or thread, as in
      spinning or warping machines, looms, sewing machines, etc.
      [1913 Webster]

   3. The little rounded piece of wood, at the end of a latch
      string, which is pulled to raise the latch.
      [1913 Webster]

   4. (Haberdashery) A fine cord or narrow braid.
      [1913 Webster]

   5. (Elec.) A cylindrical or spool-shaped coil or insulated
      wire, usually containing a core of soft iron which becomes
      magnetic when the wire is traversed by an electrical
      current.
      [1913 Webster]

   Bobbin and fly frame, a roving machine.

   Bobbin lace, lace made on a pillow with bobbins; pillow
      lace.
      [1913 Webster]

WordNet (r) 3.0 (2006):

bobbin lace
    n 1: a handmade lace worked on a pillow with threads wound on
         bobbins; the pattern is marked out on the pillow by pins
         [syn: pillow lace, bobbin lace]