An appeaser is one who feeds a crocodile, hoping it will eat him last.

Winston Churchill (1874-1965) British statesman and author

(Attributed)

Churchill reportedly used used this phrase frequently prior to WWII, but it has not been found per se by Churchill scholars in his writings, speeches, press conferences, radio addresses, or parliamentary debates.

However, on a radio broadcast (20 Jan 1940), speaking of the neutral states standing by while Germany (and Russia) swallowed them up (referencing Finland fighting against Russia in particular), "Each one hopes that if he feeds the crocodile enough, the crocodile will eat him last. All of them hope that the storm will pass before their turn comes to be devoured. But I fear -- I fear greatly -- the storm will not pass. It will rage and it will roar, even more loudly, even more widely."

Also attributed to Franklin Roosevelt.

More discussion of this quotation: An Appeaser Is One Who Feeds a Crocodile, Hoping It Will Eat Him Last – Quote Investigator.