This word is derived from thing-a-ma-jigger or thing-a-ma-bob as a shorter term. Is the appropriate word to use when you forget the name of somthing or a word you were going to say.
Although it is often used for nouns with adjectives so that the other person can understand what the item maybe.
Person 1: can you pass me a mesure thingy.
Person 2: you mean a ruler?