Shelly \sh(el)-ly\ as a girl's name (also used as boy's name Shelly), is a variant of Rachel (Hebrew), Rochelle (French, Old German) and Shelley (Old English), and the meaning of Shelly is "ewe, female sheep; little rock; rest; sloped meadow".
The baby name Shelly sounds like Shell, Shella, Shelle and Shelli. Other similar baby names are Shelby and Shellby.