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The term refers to a designer watch from Jacob and Company, a company that sells stupid expensive watches.
The Game Lyrics from "Hate It or Love It"

"...I ain't have 50 cent when my grandmama died
Now I'm going back to Cali with my Jacob on, see how time fly?"
Jacob by not for nothing February 22, 2019
Jacob is one of the sweetest people you will ever meet, he is very old fashioned when it comes to love. He’s the type to cal you Miss and brings you flowers every time you go on a date. He has a very caring personality, a true gentleman right there. He will listen to your problems even when he has his own. He is very closed off when it comes to feelings and he is very hard on himself. He opens up to people quickly and isn’t the most popular and he might not be the guy most girls notice but once they do he’s a keeper. He opens his heart to a lot of people only to be crushed but he doesn’t let it affect him. He’s always trying to lift others moods even when he’s not feeling the best.
Girl 1: I’ve been so stressed and everything is going so bad right now I just want to give up.
Jacob(feels terrible and wants to cry): what’s wrong tell me everything maybe I can help.
Jacob by Sources1013 March 5, 2019
a donkey who can't get none
hey look he has to be jacob
jacob by someonewhoknowsjacob March 6, 2019
Jacob is that type of person everybody thinks is hot but then his voice is like he is on heailum and most the time they have ocd
He sounds like jacob
Jacob by Lazerdud3 March 18, 2019
A person with this name has usually has a 15in penis. And is extremely attractive.
"Hey Jacob you are a sexy beast and have a huge cock."
Jacob by ch33zywiz_17 March 18, 2019
Jacob killed me with his charm and charisma and 10 metre cock
Jacob by JAaob is SEX March 18, 2019