Betsy \b(e)-tsy, bet-sy\ as a girl's name is of English origin. Pet form of Elizabeth (Hebrew) "God's promise", a blend of Betty and Bessie (see Bess). Made famous by Betsy Ross, who supposedly made the first American flag.
Betsy has 4 variant forms: Bets, Betsey, Betsie and Betts.
A baby name that sounds like Betsy is Patsy.