"Hobgoblin of Little Minds" was a premise for a story in the Gargoyles Universe developed by Greg Weisman shortly after production of Gargoyles had ended.  To this day, Greg Weisman has not disclosed any details about it. 
Although the character Puck is referred to as a hobgoblin, e.g. in A Midsummer Night's Dream, Greg Weisman has said that identifying the hobgoblin of the title is "not that simple." 
The title of the story is taken from a quote by Ralph Waldo Emerson from the essay "Self-Reliance": "A foolish consistency is the hobgoblin of little minds."