This is a word that has somehow survived centuries of human usage, despite the fact that it probably didn't make much sense when they first used it. It was used back in the 16th century, when people evidently wore hoods. Wink means eyes closed, of course, and it had something to do with thieves shoving a hood over their victim's heads before they robbed them. It also had something to do with falconry.
Anyway, this is basically a dumb word. Lots of humans hoodwink themselves these days. The word is used these days to mean that people get tricked or something.
If you buy something like this you have been hoodwinked.