Source : Webster's Revised Unabridged Dictionary (1913)

Baggy \Bag"gy\, a.
   Resembling a bag; loose or puffed out, or pendent, like a
   bag; flabby; as, baggy trousers; baggy cheeks.

Source : WordNet®

baggy
     adj : not fitting closely; hanging loosely; "baggy trousers"; "a
           loose-fitting blouse is comfortable in hot weather"
           [syn: {loose-fitting}]
     [also: {baggiest}, {baggier}]