baggy
adj.adj. very loose and not fitting tightly against your body. People usually use this to describe clothes that are much bigger than they need to be.
adj. fitting loosely or hanging in folds; having a size significantly larger than required for the wearer's frame. Often used to describe garments like trousers, sweaters, or shirts.
He likes to wear baggy jeans when he relaxes at home.
She decided to wear a baggy sweater because the weather was cold and she wanted to feel comfortable.
The fashion trend shifted from the sharp, tailored silhouettes of the previous decade toward oversized, baggy aesthetics that prioritised comfort and a relaxed urban look.
From bag + -y (adjectival suffix).
Presumably a back-formation from baggies (the plural), presumably a genericization of the brand name Baggies. Also analyzable as bag + -y (diminutive suffix).
Typically used attributively before a noun or predicatively after a linking verb like 'look' or 'feel'.