trying to find out a bit more about this expression. so far all I can find is that it might relate to morris dancing(now, there's a CT for ya').
the fops of the court(around 1450) would dance "with bells on" in a effort to woo the ladies...
http://www.indigogroup.co.uk/edge/paganism.htm

any other ideas?


ok. found this, too:
http://phrases.shu.ac.uk/bulletin_board/10/messages/541.html

hmmm...

formerly known as etaoin...