The toponym is derived from the Old English for "cottage for which rent is payable".

An alternative description for the name of Gawcott, however, comes from the old Norse word for the cuckoo, 'Gaukr', pronounced Gawk and 'cott' for house/ home/ cottage.

This explanation has some merit as in the west of the village the cuckoo was the prevalent bird up until the early 1940s when much of its habitat was destroyed to make space for servicemen in the Second World War.

One of the local historic public houses of the village was also named the Cuckoo's Nest.

Sir George Gilbert Scott, the architect of the Midland Grand Hotel at St Pancras railway station in London (and numerous other buildings), was born in Gawcott[2][3] where his father, the Reverend Thomas Scott (1780–1835), was perpetual curate.