Meaning
A woman who is attractive and noticeably well shaped — a small waist against full hips and backside, the doll-like proportions the word is named for. It very often describes a figure that has been surgically enhanced, a BBL most commonly, though by no means always: plenty of women are called dolly on their natural shape alone. As normally used it is a compliment, admiring the result and the effort behind it, and it speaks to body shape more than to the face. The set phrase 'Dolly Kitty' pairs it with a euphemism for the female genitals. This is a different word from 'dolly house', the children's game of playing house, which shares the form but none of the meaning.
Examples
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Look pon di dolly weh jus walk pass.
Look at the shapely woman who just walked past.
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She gaan a foreign an come back a dolly.
She went abroad and came back with a doll figure.
A common way of hinting that the shape was surgically done.
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Nuh every dolly buy it — some a dem born so.
Not every shapely woman paid for it — some were born that way.
The word does not assume surgery; it describes the shape either way.
Origin
From English 'doll'. The comparison is to a doll's proportions — the exaggerated waist-to-hip line of a fashion doll — rather than to a doll's face, which is why the word reads as being about figure first.
How it’s used
Complimentary in ordinary use. Be aware it can be heard as implying cosmetic surgery, which is not always welcome from someone who has not been invited to comment. It is also frequently paired with sexual slang — 'Dolly Kitty' being the common example — so check the whole phrase before repeating it.