[Opinions] it might not be ...
I recently read a book called "Bury Me Standing, the Gypsies and Their Journey" and apparently they themselves call themselves Gypsies, even more so than they use the Romany/Roma term. I can understand why it would not be obvious that people shouldn't use Gypsy as a name.
I still think it makes a fairly good name for a horse.
Before you criticize a man, walk a mile in his shoes. That way, when you criticize him, you're a mile away and you have his shoes!
Steve Martin