Ah, jag hittade äntligen något om Shorty på nätet
"A term contrived by some asshole or group of assholes to mean a sexy or attractive female.
A term I wouldn't ever use to describe a girlfriend, close female companion or a desirable female of whom I'd like to get better acquainted with.
I buy mah shorty diamonds and call her shorty because she is very sexy yet has the brains of a turtle and thinks shorty is a cute adorable term instead of what it really is. Another mindless slang invented by people that live their lives in dance clubs."