For purposes of modern slang, the word was originally developed as a combination of the words COCK and CUNT for the radio show "Taste of the Goods."
CUNK sounded too much like CUNT for radio.
CANK made a better sound for a
non gender specific insult involving the genetalia. The final meaning of "
cank" is dumb, and doesn't speak (as when arrested), and this stems from old english theives slang. It is also exactly what happens when someone has a cank in their mouth.