Green’s Dictionary of Slang

1. (US teen) a popular girl.

1944

N. Pepper in Baltimore Sun (MD) 16 Jan. A2/2: Paper Doll — a popular girl.

2. a promiscuous, sexually available woman.

1973		J. McNeil Chocolate Frog (gloss.).
1983		R. Aven-Bray Ridgey-Didge Oz Jack Lang 7: The paper doll on the Johnny Horner knew that the bulge in his sky rocket was not an aristotle.
1999		Indep. Rev. 13 Aug. 11: Kartheiser is pure paper doll.