Lilly \l(il)-ly\ as a girl's name is a variant of Lillian (Latin) and Lily (Latin), and the meaning of Lilly is "lily".
The baby name Lilly sounds like Lally, Lolly, Lilli, Lilley and Lilla. Other similar baby names are Milly, Billy, Cilly, Gilly, Hilly, Jilly, Tilly and Willy.