Margy \m(a)-rgy, mar-gy\ as a girl's name is a variant of Margaret (Greek), Margery (French) and Marjorie (English), and the meaning of Margy is "pearl".
The baby name Margy sounds like Margo, Margey, Marge, Marga, Marjy and Margi. Other similar baby names are Marcy, Marty and Mary.