very small, tiny, or insignificant; also a spelling variant of 'weenie' (a hot dog or sausage).
From 'wee' (small) + '-y' (adjective suffix). 'Wee' comes from Old English 'wege' meaning small. The 'weenie' spelling for hot dog may relate to dachshund dogs.
The word 'weenie' for hot dog is basically a joke—the sausage looks like a little dog! This kind of linguistic humor (called 'reanalysis') shows how playful language-users are; we rename things based on their shape or appearance.
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