To Make Bobble: Knit in [front, back, front] of next stitch to increase to 3 stitches, turn; purl 3, turn; pass first stitch over second stitch, pass second stitch over third stitch to decrease to one stitch
To Make Nupp: On knit row - Knit, YO, Knit, YO, Knit in one stitch.
On purl row - Purl all five together.
It looks different than a bobble. It looks like five little rings hanging close together when done very well. Close up from Interweave Knits: