[That is, something having, or made of, stripes]
The second looks correct to me (and a Google search shows many people using it) but the dictionary tells me the first is the actual word. However, Google spell check isn't flagging the second as misspelled. Logically, I know that the first should be correct (take off the "e" of "stripe" and add a "y").
Is the second British? Is it simply spelled incorrectly so frequently that I have grown used to it? And yes, I know "striped" would mean the same thing and possible be more correct than either, but it is also more formal and stuffy. I'm looking for cute.
Context: I am considering buying a domain name for a pet related site that will contain this word. I will buy both spellings so that the site can be found either way, but what spelling should be in the formal name?