Etymology
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Words related to dippy

dip (v.)

Old English dyppan "to plunge or immerse temporarily in water, to baptize by immersion," from Proto-Germanic *daupejanan (source also of Old Norse deypa "to dip," Danish døbe "to baptize," Old Frisian depa, Dutch dopen, German taufen, Gothic daupjan "to baptize"), related to Old English diepan "immerse, dip," and probably a causative of Proto-Germanic *deup- "deep" (see deep (adj.)).

Intransitive sense of "plunge into water or other liquid" and transferred sense "to sink or drop down a short way" are from late 14c. From c. 1600 as "to raise or take up by a dipping action;" from 1660s as "to incline downward;" from 1776 as "to lower and raise (a flag, etc.) as if by immersing."

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-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).
dipsomania (n.)

1843, "morbid craving for alcohol," also used of the temporary madness caused by excessive drinking, coined in medical Latin from Greek dipsa "thirst" (which is of unknown origin) + mania. It is recorded earlier in Italian (1829) and German (1830) medical works.

dip (n.2)

"stupid person, eccentric person," 1920s slang, perhaps a back-formation from dippy. "Dipshit is an emphatic form of dip (2); dipstick may be a euphemism or may reflect putative dipstick 'penis' " [DAS].