Wally \wa(l)-ly\ as a boy's name (also used as girl's name Wally). Short form of names such as Walter and Wallace. Actors Wally Shawn, Wally Cox.
Baby names that sound like Wally are Willy, Wallie, Wiley, Willey, Will and Willi. Other similar baby names are Wadly, Bayly, Baley, Baily, Billy, Caley, Caily, Cully, Daily, Daly, Daley, Dalle, Gall, Gallo, Haley, Halley, Haily, Hall, Halle, Hawly, Kaley, Kelly, Lallo, Waldo, Paley, Pauly, Pall, Rawly, Rolly, Sully, Tully, Wadley, Wakely, Wald, Waldi, Walid, Walsh, Wallis, Wallas, Waller, Walt, Walwyn, Warley, Way, Welby, Wellby, Wells, Wesly and Wills.