"artificial penis used for female gratification," 1590s, perhaps a corruption of Italian deletto "delight," from Latin dilectio, noun of action from diligere "to esteem highly, to love" (see diligence). Or (less likely) of English diddle. "Curse Eunuke dilldo, senceless counterfet" ["Choise of Valentines or the Merie Ballad of Nash his Dildo," T. Nashe, c. 1593] A classical Latin word for one was fascinum (see fascinate). In later English sometimes a French word, godemiché, was used (1879).
A term of obscure cant or slang origin, used in old ballads and plays as a mere refrain or nonsense-word; also used, from its vagueness, as a substitute for various obscene terms and in various obscene meanings. [Century Dictionary]