We called them bobbleheads back in the late '60s. I think both terms have been used throughout their existence. I know that "Bobblehead" is currently more in vogue with stadium giveaways and such, But we definitely said it that way over 40 years ago as well.
Not sure why there has to be just one way to say it... I think that 4 monickers are actually acceptable...
Bobbing Head
Bobbin' Head
Bobblehead
Nodder
There's really no right or wrong here