The best guess at this time is that "pommy" was based on the word "pomegranate" -- either because the redness of the fruit supposedly matched the typically florid British complexion, or because (like "Johnny Grant" - Jimmy Grant, surely?) it was used as rhyming slang for "immigrant."
-- snopes.com
I'd like to welcome the pommy bastard to God's own earth.
-- Monty Python
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