Coincidentally, this brings up another, better example:
The original term was "duck tape", which was later thought to be "duct tape" because of its usage. Given that /dUk/ is the pronunciation either way (in normal fast speech) this is sort of a coincidental homophony with the same meaning...
(I've done some searching online to mind for discussion of this as folk etymology and didn't come across anything. I do remember reading or hearing this somewhere, but it looks like the original source was wrong about it.)