The story
From slob + -ov (forming Slavic possessives) + -ia (forming placenames). First used as Lower Slobbovia in the Li'l Abner comic strip in 1946, its capital named "Raswashingsputin, D.C.", and its culture largely bagel-based, with vague reference to poor but moderately developed countries similar to Eastern Europe. Later maps of Lower Slobbovia placed it in Manchuria and eastern Siberia. Compare sloboda, a similar-sounding word from Slavic languages which provides the etymology for many places named Slobozia in Romania and Moldova.
Etymology from Wiktionary, CC BY-SA 4.0.