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Re:Ask HN: Do you swear in your code? by ajross on Monday June 16, 2008 @05:22PM (#219133)
Yes, that's the source of the symbols. Some people like them, some think they're unprofessional, yada yada. But I've never once had someone try to interpret "foo" as profanity...
Re:Ask HN: Do you swear in your code? by tjr on Monday June 16, 2008 @07:37PM (#219232)
Possibly, though it seems somewhat more complex than that.

http://www.catb.org/~esr/jargon/html/F/foo.html