word with quite similar meaning as terms like „lolita“ or „nymphet“, describing a sexually attractive girl with both, childlike and feminine attributes in terms of body and behavior.
used in modern Latin-American youth-cult’s language, which often adapts English expressions particularly in the lyrics of their songs (especially Spanish HipHop & Reggaeton)
from my sprachgefühl, "shorty" is not put into context with pedophilia as much as "lolita" or "nymphet"
But as this term frequently gets interpreted as a dismissive and crude adjective, I'd never use it to define a girl's looking or personality.
As mentioned above, you'll find "shorty" in certain kinds of music where use is made of vulgar language. (Don't rate me down because of this statement! I'm not intending on being offensive - that’s just how it is. I actually like that music...)
Part of the lyrics taken from the song “Shorty” by “Los Leones”:
(In this song a boy/man basically sings about a girl he finds himself attracted to not being able to get with her because she is too young)
...Hey Shorty, dime la verdad, ¿cuál es tu edad?...
(Hey Shorty, tell me the truth, how old are you?)
…ella dice que es grande ya pero es una niña / ella es una shorty, pa', de corta edad…
(she says that she is a big girl (meaning adult) but she is a girl / she is a Shorty of young age)
as you can see, here "shorty" is used in a provocative, appetent way
please don’t overvalue this translation as I did it myself without being familiar with the Spanish language ;)
by the way: I recommend this song, it's nice to listen to :)