It's a polite way of saying Sweet F A (either Fanny Adams, or whatever else you think appropriate) or bugger all - and all without doing anything.Billy Bennet used the expression in his monologue, "'Twas Christmas Day in the cookhouse" (one of Billy Bennet's Budgets). I can't remember what some of the other comments had been, but "Others said san fairy ann".
As regards the Bobby Bob bit, I'm a Robert, and a son of Robert, which makes me become Bobby Bob. My grandfather was John, and my great-grandfather was William, so, as I say at the start of my bilingual radio programme (Manx Gaelic and English) on Manx Radio, "My name is Bobby Bob John Billy."
My programme used to be followed by a syndicated (sin-dicated?) "religious" programme (opinion withheld) called "Frank and Ernest", which gave rise to some jocular banter in these parts.
Lhiats,
Bobby Bob..