
"Oh, Ward! Don't you think you're being a little hard on the Beaver?"
In colonial times it was thought that prostitutes spread veneral diseases through contact with their pubic area, so the women were made “bald” in that area for health reasons. However, their clients did not like that look and business began to suffer. Therefore, pubic wigs, called merkins, were manufactured for the prostitutes. These merkins were made out of beaver pelts. Hence the term beaver. Learned this on a historical tour of Philadelphia.
Wouldn’t be surprised to find out Eddie Haskel was somehow involved.