wood (n.)
Old English wudu, earlier widu "tree, trees collectively, forest, grove; the substance of which trees are made," from Proto-Germanic *widu- (source also of Old Norse viðr, Danish and Swedish ved "tree, wood," Old High German witu "wood"), from PIE *widhu- "tree, wood" (source also of Welsh gwydd "trees," Gaelic fiodh- "wood, timber," Old Irish fid "tree, wood"). Out of the woods "safe" is from 1792.
wood (adj.)
"violently insane" (now obsolete), from Old English wod "mad, frenzied," from Proto-Germanic *woda- (source also of Gothic woþs "possessed, mad," Old High German wuot "mad, madness," German wut "rage, fury"), from PIE *wet- (1) "to blow; inspire, spiritually arouse;" source of Latin vates "seer, poet," Old Irish faith "poet;" "with a common element of mental excitement" [Buck]. Compare Old English woþ "sound, melody, song," Old Norse oðr "poetry," and the god-name Odin.