This rare kanji has no clear standalone meaning. Treat its meaning as uncertain.
笣 combines 竹 (bamboo) with 包, which likely contributes a sound element. The exact historical meaning is uncertain, but it may have originally referred to a type of bamboo or bamboo-related object.
Bamboo 竹 wrapped in a bundle 包 suggests something made of bamboo, but the exact meaning is unclear.
For ホウ, imagine a bamboo bundle wrapped so tightly it makes a hollow 'hou' sound when tapped: hou -> ホウ.
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