The story
Uncertain first element + cuttle. The OED takes the forms with con to be easy misreadings of the earlier-attested cou (compare e.g. ouarine, a misreading of ouariue), but says pour- "can hardly stand for an earlier poul-" as on poulpe, polyp (compare polwygle, porwiggle as variants of pollywog).
First known use, by meaning
- 16th–18th c. A cephalopod with tentacles; an octopus or cuttlefish.
Etymology from Wiktionary, CC BY-SA 4.0.