Meaning A boy's name of Scottish origin, it means "Diminutive of Wallace: Welshman; stranger Famous Bearer: Scottish hero Sir William Wallace (executed in 1305)Welshman; stranger." Origin of Wally Scottish +-100%Zoom level changed to 1 Popular Middle Names John Pronunciation 🔊 Listen Wally Similar Names Wal Willy Bill Gerontius Bob Ern Wat Geraint Douglass Stirling Year by Year Popularity of Wally