Entry 3 senses · 2 variants Webster, 1913 loony /(lo͞on"y̆)/ · loon·y · IPA /ˈluːni/ a. n. 01 a. Crazy; insane; lunatic; mentally unsound. 1. Crazy; insane; lunatic; mentally unsound.[Low, U.S.] 2. Very foolish; very impractical; as, loony ideas. 02 n. someone mentally deranged and possibly dangerous. 1. someone mentally deranged and possibly dangerous. Syn. crazy, looney, weirdo, psycho.