Origin and history of dewy

"water vapor deposited from the atmosphere by condensation, especially during the night," Middle English deaw, deu, from Old English deaw, from Proto-Germanic *dawwaz (source also of Old Saxon dau, Old Frisian daw, Middle Dutch dau, Old High German tau, German Tau, Old Norse dögg "dew"), perhaps from PIE root *dheu- "to flow" (source also of Sanskrit dhavate "flows, runs").

Used figuratively of something refreshing (late Old English), or suggestive of morning and youthful freshness (1530s). As a verb, "to wet with or as with dew," Old English deawian.

The formation of dew is explained by the loss of heat by bodies on the earth's surface through radiation at night, by which means they and the air immediately about them are cooled below the dew-point ....Dew is thus deposited chiefly on bodies which are good radiators and poor conductors of heat, like grass; hence also it appears chiefly on calm and clear nights--that is, when the conditions are most favorable for radiation. It never appears on nights both cloudy and windy. In winter dew becomes hoar frost. [Century Dictionary]

very common adjective suffix, "full of, covered with, or characterized by" the thing expressed by the noun, Middle English -i, from Old English -ig, from Proto-Germanic *-iga-, from PIE -(i)ko-, adjectival suffix, cognate with elements in Greek -ikos, Latin -icus (see -ic). Germanic cognates include Dutch, Danish, German -ig, Gothic -egs.

It was used from 13c. with verbs (drowsy, clingy), and by 15c. with other adjectives (crispy). Chiefly with monosyllables; with more than two the effect tends to become comedic.

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Variant forms in -y for short, common adjectives (vasty, hugy) helped poets after the loss of grammatically empty but metrically useful -e in late Middle English. Verse-writers adapted to -y forms, often artfully, as in Sackville's "The wide waste places, and the hugy plain." (and the huge plain would have been a metrical balk).

After Coleridge's criticism of it as archaic artifice, poets gave up stilly (Moore probably was last to make it work, with "Oft in the Stilly Night"), paly (which Keats and Coleridge himself had used) and the rest.

Jespersen ("Modern English Grammar," 1954) also lists bleaky (Dryden), bluey, greeny, and other color words, lanky, plumpy, stouty, and the slang rummy. Vasty survives, he writes, only in imitation of Shakespeare; cooly and moisty (Chaucer, hence Spenser) he regards as fully obsolete. But in a few cases he notes (haughty, dusky) they seem to have supplanted shorter forms.