Gypsy \gy(p)-sy\ as a girl's name is of Old English origin. The tribe of Romany was called "gypsy" because they were thought to have originated in Egypt. The name is often used as a nickname, as in Gypsy Rose Lee.
Gypsy has 3 variant forms: Gipsee, Gipsey and Gipsy.
A baby name that sounds like Gypsy is Gabysia.