from
Jargon File (4.4.4, 14 Aug 2003)
molly-guard
/mol'ee.gard/, n.
[University of Illinois] A shield to prevent tripping of some {Big Red
Switch} by clumsy or ignorant hands. Originally used of the plexiglass
covers improvised for the BRS on an IBM 4341 after a programmer's
toddler daughter (named Molly) frobbed it twice in one day. Later
generalized to covers over stop/reset switches on disk drives and
networking equipment. In hardware catalogues, you'll see the much less
interesting description "guarded button".