Wags
wives and girlfriends (generally of footballers: the term was popularised during the 2006 World Cup, although Fabio Capello initially banned them from joining the 2010 team in South Africa); the singular is Wag. Regarded by many as sexist, although variations include Habs (husbands and boyfriends)
Wahhabism
wah-wah pedal
waiver or waver?
To waive is to relinquish a claim or right, as in the much used headline “Britannia waives the rules”. The associated noun is waiver, which can lead to confusion with waver, meaning to hesitate (or a person waving).
Adding to the fun, waver is sometimes mixed up with haver, which in Scotland means to talk nonsense