Yes, bob is a Scrabble word!

Verb

1. Move up and down repeatedly

2. Ride a bobsled

3. Remove or shorten the tail of an animal

4. Make a curtsy; usually done only by girls and women; as a sign of respect

5. Cut hair in the style of a bob

Noun

1. A former monetary unit in Great Britain

2. A hair style for women and children; a short haircut all around

3. A long racing sled (for 2 or more people) with a steering mechanism

4. A hanging weight, especially a metal ball on a string

5. A small float usually made of cork; attached to a fishing line

6. A short or shortened tail of certain animals

7. A short abrupt inclination (as of the head)