Use the substring method:
var length = 3;
var myString = "ABCDEFG";
var myTruncatedString = myString.substring(0,length);
// The value of myTruncatedString is "ABC"
So in your case:
var length = 3; // set to the number of characters you want to keep
var pathname = document.referrer;
var trimmedPathname = pathname.substring(0, Math.min(length,pathname.length));
document.getElementById("foo").innerHTML =
"<a href='" + pathname +"'>" + trimmedPathname + "</a>"