Pounds and pence (doesn't make sense)

Cockney rhyming slang is complete gibberish. It uses the same words as regular english, but words don't mean the same thing. Take a look at this page if you don't believe me. Here are some fine examples, English followed by Cockney:

Funny: Easter Bunny. Example: "You think you're so bloody Easter Bunny"

Pain: Shania Twain (also Saddam Hussein) Example: "He's a right Saddam Hussein"

Belch: Raquel Welch

Tube (London Underground): Rubic's Cube. Example: "Shall we go on the rubic's?"

I've met several people who speak this way. Usually on Mill Road in Cambridge. Usually they are very, very drunk (or "elephant's trunk" in cockney.)