"full of bubbles," 1590s, from bubble (n.) + -y (2). Of persons, from 1939. The slang noun meaning "champagne" (1920) is short for bubbly water (1910).
Entries linking to bubbly
bubble n.
"small vesicle of water or some other fluid inflated with air or gas," early 14c., perhaps from Middle Dutch bobbel (n.) and/or Middle Low German bubbeln (v.), all probably of echoic origin. Figurative use in reference to anything wanting firmness, substance, or permanence is from 1590s. Specifically in reference to inflated markets or financial schemes originally in South Sea Bubble, which originated c. 1711 and collapsed 1720. Bubble-bath recorded by 1937. Bubble-shell is from 1847.
-y 2
adjective suffix, "full of or characterized by," from Old English -ig, from Proto-Germanic *-iga- (source also of Dutch, Danish, German -ig, Gothic -egs), from PIE -(i)ko-, adjectival suffix, cognate with elements in Greek -ikos, Latin -icus (see -ic). Originally added to nouns in Old English; used from 13c. with verbs, and by 15c. even with other adjectives (for example crispy). Adjectives such as hugy, vasty are artificial words that exist for the sake of poetical metrics.