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1.
A fabricated or highly exaggerated story intended to deceive.
This is a corruption of a "concocted and bully story". Bully is the Danish bullen, or exaggerated. Therefore, it stands to reason that a cock and bull story is a made up, exaggerated story.
I don't want to hear another cock and bull story about why you are late.
by Lorn A. W. August 14, 2004
 
2.
a made up story
that is a cock an bull story!
by steph December 28, 2003