Derivative of Wal*Mart's "Low Prices" slogan and cheap ass merchandise.
Keith: Fuck, I wouldn't hit that shit with a 10 foot gallawhacker.
Also, A Character in a chain of books who hides among the pages... (in America see: Waldo)
Commonly confused with the word woolly (see: sheep)
Also, "Oh no! I can't find Wally!!!"