"a ludicrous trick" [Johnson], played sometimes in malice but more often in sport, 1520s, a word of uncertain origin, perhaps related to the obsolete verb prank "act ostentatiously, show off" (mid-15c.), also "to decorate, adorn in a showy manner" (1540s), which is related to Middle Low German prank "display" (compare also Dutch pronken, German prunken "to make a show, to strut"). The verb in the "play a trick on" sense also is from 1520s. Related: Pranked; pranking. Compare prig. Prinkum-prankum "a prank or trick" is attested from 1590s; as the name of a kind of dance, 1630s.
Old English -istre, from Proto-Germanic *-istrijon, feminine agent suffix used as the equivalent of masculine -ere (see -er (1)). Also used in Middle English to form nouns of action (meaning "a person who ...") without regard for gender.
The genderless agent noun use apparently was a broader application of the original feminine suffix, beginning in the north of England, but linguists disagree over whether this indicates female domination of weaving and baking trades, as represented in surnames such as Webster, Baxter, Brewster, etc. (though spinster probably carries an originally female ending). Also whitester "one who bleaches cloth;" kempster (c. 1400; Halliwell has it as kembster) "woman who cleans wool." Chaucer ("Merchant's Tale") has chidester "an angry woman." In Modern English, the suffix has been productive in forming derivative nouns (gamester, punster, rodster "angler," etc.).