Refers to the act of patching clothes or fabric, or to an item that has been patched or needs patching. Often used in contexts of mending or extending the life of garments.
Variant without okurigana; less common but still used.
Etymology
Compound of 継ぎ (tsugi, 'patching', continuative form of 継ぐ 'to patch') + 物 (mono, 'thing'). The kanji 継 means 'inherit' or 'succeed', but here it is used in the sense of joining or patching.