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Definition of wally noun from the Oxford Advanced Learner's Dictionary

wally

noun
 
/ˈwɒli/
 
/ˈwɑːli/
(plural wallies)
(British English, informal)
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  1. a stupid person
    Word Origin1960s: perhaps a shortened form of the given name Walter. There are many theories of the origin: one story tells of a Wally who became separated from companions at a 1960s pop festival; the name, announced many times over a loudspeaker, was taken up as a chant by the crowd.
trait
noun
 
 
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