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
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Nickname of the Wally Parks trophy, the official trophy of the National Hot Rod Association (NHRA).

Given to regional and national event winners off all NHRA-sanctioned events, "The Wally" is named after the founder of the NHRA, Mr. Wally Parks.

First awarded in 1969, the Wally has become the most coveted trophy in all of drag racing, and whether it's a small single car garage of a blue collar plumber and his '69 Camaro B/Gas in Maine to the most well funded and advanced mutli car Top Fuel teams in California, being able to utter the phrase "I won a Wally" is the dream of thousands of racers all around the country, and the world.
"Dude, I just won a Wally at Maple Grove!"
by Kevin8r December 29, 2011
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The term Bill Cosby used in a comedy routine/story, meaning penis. In this scenario, he'd just stepped out of the shower and began peeing in the toilet standing up. His two toddler-age daughters open up the door, walk in, and start to yell and point at his "wally-wally" and ask if they will get one. He yells at them and they leave him wondering how he's going to go about explaining sex to his daughters (because he forgot to several weeks before).
-"Ooooooohhhhhhh, Daddyyyyyyyy...you gotta wally-waaallllyyyy!"
-Now up comes the principal with the police, "Mr. Cosby, why don't you come with us, please?" "What for?" "For showing your kids your wally-wally..."
by A Ghost June 16, 2008
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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
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so bored ive been wallying around all day.

by street2 February 20, 2009
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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
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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
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