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Should Jericho spot you stealing anything from his house, he will turn hostile; even if he is your active follower. On occasion, he might just take whatever you have of his away and put it in his inventory, where you can then retrieve it.
There is a teddy bear that is found under his bed when he is not there, but if you enter and find him there, then the teddy bear will be on top of the bed, this is really easy to poke fun at him with.