Green’s Dictionary of Slang

watermelons n.

[ext. of melon n. (5)]

(orig. US campus) large female breasts.

[US]Baker et al. CUSS.
[US] P. Munro Sl. U.
[Aus]M.B. ‘Chopper’ Read How to Shoot Friends 111: By this time she was a big-built woman with a large set of Polish watermelons.
[Aus]P. Temple Black Tide (2012) [ebook] [She] appears to have shoplifted watermelons and put them down the front of her dress.