A wally is infact someone who is very intelligent in some areas but very stupid (alomost unbelievably) in others, eg such as clumsiness.
You spilt your drink all over my bedside table you wally.
Mate, crack out the horlicks and LETS GET FUCKING WALLIED!!!!
Wally is a derogatory term used to make a person named Walter feel stupid, weak, and ugly.
Did you see Wally in Jingles today, it was too funny.
A dance originated in Philly where a women is bent over, shaking her ass, and a man is dancing right behind her ass. Made popular by the song "Gimme a Wally"
"Bend over and gimmie a wally!"
An insult that became popular in the 80's, meaning an idiot. Scholars of urban slang have long believed this word originated at Woodstock (15-17th Aug'69), when some hippy lost his dog called Wally. He wandered around the site shouting Wally, and before long the crowd started shouting it. After that, wally became a popular chant at music festivals. However, on a recording of a Jimi Hendrix concert on 9th Jan 1969 in Sweden (7 months before Woodstock), someone in the audience shouts wally while Jimi is dedicating a song, prompting him to say "yeah, this song is for wally too". So, while the word probably did originate at a festival, if has to be another one, not Woodstock.
Someone who is a fool, or has just made a tremendous fool of themselves.
Also, A Character in a chain of books who hides among the pages... (in America see: Waldo)
Commonly confused with the word woolly (see: sheep)
"You're such a wally!"
Also, "Oh no! I can't find Wally!!!"