The first usage of this word seems to be from the novelty song Kookie, Kookie, lend me you comb (1959), by Ed Kookie Byrnes. He actually used the word "ginchiest" ("Baby, you're the Ginchiest"), not ginchy. The whole 'song' is a bit spaced out, and it would be completely in character for him to make up a new word.
'Ginchy' was interpreted by the youth of the day as meaning that a person or thing was excellent, admirable, and/or elegant.
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