Colly \c(ol)-ly\ as a girl's name is a variant of Colleen (Gaelic) and Columba (Latin), and the meaning of Colly is "girl, wench; dove".
The baby name Colly sounds like Cally and Coley. Other similar baby names are Cilly, Corly, Dolly, Holly, Lolly, Polly and Molly.