What is wally short for?

"Wally" can be a nickname or short form of various names, such as Walter, Wallace, or even Wellington. It is commonly used as a nickname for males, although it can also be used for females in some cases. The name "Wally" can be of English or German origin and often translates to mean "ruler" or "powerful warrior." It has a friendly and approachable feel, making it a popular choice for informal or affectionate use with friends and family.