kelpie vs kelpy

kelpie and kelpy both are nouns.

Word	Noun	Adjective	Verb	Adverb
kelpie	Yes	No	No	No
kelpy	Yes	No	No	No

As nouns, kelpie and kelpy are synonyms defined as:

kelpie and kelpy: (Scottish folklore) water spirit in the form of a horse that likes to drown its riders

kelpie (noun)	kelpy (noun)
an Australian sheepdog with pointed ears	(Scottish folklore) water spirit in the form of a horse that likes to drown its riders
(Scottish folklore) water spirit in the form of a horse that likes to drown its riders