A derivative of the Serbo-Croatian verb gibati/гибати meaning "to fold; sway, swing, rock", the pastry was mentioned in Vuk Stefanović Karadžić's Serbian Dictionary in 1818 and by a Slovenian priest Jožef Kosič in 1828, where it was described as a special Slovenian cake which is "a must at wedding festivities and is also served to workers after finishing a big project".

Today the versions of this cake can be found in Slovenia, Croatia, Serbia, Bosnia, North Macedonia and other regions of the former Yugoslavia.

In the vocabulary of the Yugoslav Academy, as well as in the etymological dictionary of Slavic languages, the word gibanica is a derivative of the Serbo-Croatian verb gíbati/гибати, which means "to fold; sway, swing, rock".

[9] Međimurska gibanica, from the neighbouring Međimurje region of Croatia, is a closely related but simpler and less "formal" dish consisting of four layers of fillings (prepared fresh cheese (quark), poppyseed, apple and walnut).

[12] Gibanica can also be considered to resemble a type of cheese strudel, with which it likely shares a common ancestry in the pastry dishes of the region, and the cuisines of the Byzantine and Ottoman empires.

Gibanica is one of the most popular and recognizable pastry dishes from the Balkans, whether served on festive occasions, or as a comforting family snack.

In Serbia, the dish is eaten as breakfast, dinner, appetizer and snack,[13] and is often consumed at traditional events such as Christmas, Easter and Slava.