Ceilidh

• No way.  It's a great word, very pretty.  In Irish Gaelic, it means party, and in the world of Irish Dance, it's a dance done with atleast 6 people, kind of like a giant polka.  You don't want to burden your kid with party--you're not naming her Fiesta, either, are you?
• (KAY-lee) - A Scottish Gaelic word, it means "party" or "festivities". Giving your child this name would be like wishing them a life full of fun and good times or something.

As one person said, it's kind of like naming your kid "kegger."
See Also: Caliegh, Caley, Céilí, Kaeli, Kaylea, Kaele, Kaleigh, Kaily, Kaylee, Kayleigh.