generic or mock-heroic name for a horse, mid-14c., from Old French Baiard, name of the bay-colored magic steed given by Charlemagne to Renaud in the legends, from Old French baiart "bay-colored" (see bay (adj.)). Also by early 14c. proverbial as a blind person or thing, for now-unknown reasons.
The name later was used attributively of gentlemen of exceptional courage and integrity, in this sense from Pierre du Terrail, seigneur de Bayard (1473-1524), French knight celebrated as Chevalier sans peur et sans reproche. The surname is perhaps in reference to hair color.