The Collaborative International Dictionary of English v.0.48:

Bauble \Bau"ble\ (b[add]"b'l), n. [Cf. OF. baubel a child's
   plaything, F. babiole, It. babbola, LL. baubellum gem, jewel,
   L. babulus, a baburrus, foolish.]
   1. A trifling piece of finery; a gewgaw; that which is gay
      and showy without real value; a cheap, showy plaything.
      [1913 Webster]

            The ineffective bauble of an Indian pagod.
                                                  --Sheridan.
      [1913 Webster]

   2. The fool's club. [Obs.] "A fool's bauble was a short stick
      with a head ornamented with an ass's ears fantastically
      carved upon it." --Nares.
      [1913 Webster]

WordNet (r) 3.0 (2006):

bauble
    n 1: a mock scepter carried by a court jester
    2: cheap showy jewelry or ornament on clothing [syn: bangle,
       bauble, gaud, gewgaw, novelty, fallal, trinket]

Moby Thesaurus II by Grady Ward, 1.0:

100 Moby Thesaurus words for "bauble":
   a continental, a curse, a damn, a darn, a hoot, agate, bagatelle,
   ball, baseball bat, bat, battledore, bean, bibelot, bit, blocks,
   brass farthing, bric-a-brac, button, cent, checkerboard,
   chessboard, club, cockhorse, cricket bat, cue, curio, dido, doll,
   doll carriage, farce, farthing, feather, fig, fleabite, folderol,
   fribble, frippery, gaud, gewgaw, gimcrack, golf club, hair,
   halfpenny, hill of beans, hobbyhorse, jack-in-the-box, jacks,
   jackstones, jackstraws, jest, joke, kickshaw, knack, knickknack,
   knickknackery, marble, marionette, mig, minikin, mockery, molehill,
   novelty, ornament, paper doll, peppercorn, picayune,
   pick-up sticks, pin, pinch of snuff, pinprick, pinwheel, plaything,
   puppet, racket, rag doll, rap, red cent, rocking horse,
   row of pins, rush, shit, snap, sneeshing, sou, sport, steelie,
   straw, taw, teetotum, top, toy, toy soldier, trifle, trinket,
   triviality, tuppence, two cents, twopence, whatnot, whim-wham