A corruption of Penelophon. The beggar-maid loved by
King Cophetua.
“The magnanimous and most illustrate king Cophetua set eye upon the
pernicious and indubitate beggar Zenelophon.” —Shakespeare: Love's
Lobour's Lost, iv. 1.
Source: Dictionary of Phrase and Fable, E. Cobham Brewer, 1894