Although strictly speaking a derogatory term as defined above, it can (and often is) also used affectionately.
A: Where is Billy Littleknife?
B: I dunno. Stop asking such questions and come here.. You Silly Billy, you !snogging
a mountain goat with down syndorome
He is a silly billy
A person, who acts in a special way and is not afraid to do so. Usually a small, cute, person who is very happy and can make you laugh whenever they want to. Also some one who is very fun to be around and acts in the silliest way possible.
Why are you so cute, you sillybilly.
An proclaimation of victory used by someone at least 25 years older than their opponent. It is such a bad insult, that only the older (or should I say wiser? Maybe not...) can use it and not look stupid. It basically means that their opponent is too immature to be treated to a real insult.
Silly Billy, don't fuck wit dees old ass niggaz.
N. Ghetto slang used by black people, rappers, and porn-stars used to replace the words 'fucking retard'. More effectively used when the person being referred to is named Bill or William.
Wow Em, you should really put your clothes back on, we are at church! You are acting like a Silly Billy.
possibly the coolest nickname 2 have scinec Yo momma
" Ur silly, ur billy OKAY!