1950s; earliest use found in Frank Norman (1930–1980). Origin unknown. Perhaps from rickety; perhaps compare also earlier rick. Alternatively perhaps shortened from ricochet.
ricket2
/ˈrɪkɪt/
verb
[no object]With adverb or adverbial phrase: to move unsteadily; to lurch.
Origin
Early 19th century. Probably a back-formation from rickety.