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The gag bit is a type of bit for a horse. With two sets of reins, the gag bit gives a rider the ability to use either a standard direct action or a gag action. In this, the gag bit is related to a Pelham bit and a double bridle. Unlike these, however, the gag bit has no curb strap.
A gag is a joke. noun. The definition of a gag is a prank or a joke, or something placed over a person's mouth to stop him from making noise, or a restriction that prevents free speech. A prank where you put a whoopie cushion on someone's chair is an example of a gag.