'007 knife' is street slang for a small, cheap folding lock-knife of a style popular in some UK gangs and prison subcultures. The name comes from a model number, not from James Bond. If you have heard your child use this phrase, treat it seriously: it suggests exposure to knife-crime content online, or to peers who carry. Open a calm conversation — ask where they heard it, what they think it means, and who is talking about it. In the UK, carrying any folding knife with a blade over three inches, or any locking blade, in public without good reason is a criminal offence under the Criminal Justice Act 1988.