There was an Old Man of St Bees,
Who was stung on the Nose by a Wasp.
When they asked, "Does it hurt?"
He replied. "No, not much."
"I'm so glad it wasn't a Hornet." [1]
The modern English name of the insect Vespula vulgaris is of course wasp, but in Old English it was wæps or wæsp, and this goes back via a Germanic line of descent to a Proto-Indo-European (PIE) root *wapso-. This is also the origin of Latin vespa, and the latter may have influenced the form of modern wasp.
Interestingly there is a dialect version wopsie, which I've always been aware of and occasionally use, and this is surprisingly close to the ancestral root, so much so that it's possible to imagine that if we could travel 5,000 years back in time we might agree with people living then what the insect is called.
The French name is guêpe and if we recall that the circumflex over the 'e' originated as a scribal abbreviation for an 's', we can see it is not all that far from Latin vespa after all. But it's thought that it is a kind of amalgam of two words, both coming from PIE *wapso-, one from Frankish (so via the Germanic route) wapsu and the other from Latin vespa.
As a final aside, the name of the Roman Emperor Vespasian might derive from vespa, and there are Italian people with the surname Vespa (and also a famous brand of scooter) and Wasp is an English surname, although quite rare.
[1] I have quoted this Limerick as I remember it but checking the original by W.S. Gilber (of Gilbert and Sullivan), poking fun at Edward Lear, I see my version is a little different, but even more ridiculous so I've left it as is.
