The Collaborative International Dictionary of English v.0.48:

Flaggy \Flag"gy\, a.
   1. Weak; flexible; limber. "Flaggy wings." --Spenser.
      [1913 Webster]

   2. Tasteless; insipid; as, a flaggy apple. [Obs.] --Bacon.
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Flaggy \Flag"gy\, a. [From 5th Flag.]
   Abounding with the plant called flag; as, a flaggy marsh.
   [1913 Webster]