it's a slang word for a male's ding dong. Comedian Bill Cosby used it on a comedy sketch on his "For Adults Only" comedy album.
Bill Cosby describes going down a hallway to go to the bathroom in the middle of the night nude and his daughter sees him like this, with his cock hanging down. She says, "Awwwwwwwwwwwwwww. Daddy's got a wally wally."
by I Saw U2 Live Twice December 19, 2007
Get the wally wally mug.
so bored ive been wallying around all day.

by street2 February 20, 2009
Get the wallying mug.
An amazing girl that makes everyone she meets feel special and cared for.
I wish more girls were like Wallis
by jimbles6969 October 27, 2017
Get the Wallis mug.
When a girl dance with her butt pressed on a guys croch while he is standing up against a wall
Alicia gave Mike a wallie in the club.
by Abrasive August 21, 2011
Get the wallie mug.
To get a decent nights sleep.
Mate, crack out the horlicks and LETS GET FUCKING WALLIED!!!!
by CHRISLADDDD January 13, 2011
Get the wallied mug.
A very silly person. A fool, idiot, retard, or moron. Used jokingly/uninsultingly.
"James, you wally - you've just drank meths!"

"Ben just fell down the stairs, what a wally!"

by Georgie696 March 24, 2008
Get the A Wally mug.
A man that is impossible to find in all circumstances.
where the fuk is wally?
by Stuart May 16, 2004
Get the Wally mug.