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1. short for "lunatic". A crazy person. This term is derived from the phrase "crazy as a loon".

2. in Canada this word denotes a 1 dollar coin that has a loon bird on one side. A Canadian 2 dollar coin, which has a polar bear on one side is called a "toony".
1. The loony is on the grass.

2. At the University of Toronto I talked to a student there and I mentioned seeing the word "loonies" on a video game in a bar nearby. I told her that in America a loony is a lunatic, that the word means that someone is nuts. She said it used to mean that in Canada too, but the meaning changed when the coins were introduced.
loony by I Saw U2 Live Twice May 28, 2007
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someone like size tha loony
loony by Shaolin Monk May 28, 2003
Goofy, crazy.

I guess it could also mean 'like a loon (the bird)', but what would that be saying?
Mick: Steve's acting a little loony; now he's always talking about this get-rich quick scheme that he brought home from work and how he really wants each of us to have a piece of it. I'm not sure if he's joking or what.

Stan: You can never tell with that guy.
Loony by Diggity Monkeez May 31, 2005
Another name for Luna Lovegood from Harry Potter. It's a nickname that she got from being so quirky.
Peeves:Potter luuuuurves Loony!
loony by Jedi Master Luna February 3, 2006
A lunatic more crazy than a lunatic
George:oh wow Sara is acting real loony today
Loony by Bipanicbish October 1, 2021
An alcoholic pervert with shit feet who speaks to himself who where’s a shirt to work and drinks chicken soup
Does the loony run the insitu or does the insitu run the loony?
LOONY by Asdf ;lkj June 27, 2018
I'll give ya a loony for that samich.
loony by William H Ballard III February 10, 2004