Derived from the story book name Goldy Locks and used originally in Nottingham, 2003 by Tanner to refer to his follically challenged or shaven headed friends. First used on Jon Eames and later on Random Guy.
Commonly refers to someone who has lost his/her hair from chemotherapy. Also refers to someone who has shaved his/her head to raisemoney for, or to support someone going through cancer treatment.
Actually Baldylocks was used to refer to a kid with a shaved or buzzed head as early as the 90's on Chicago's west side.
Usually used in a teasing way when a kid came to school with a freshly buzzed head.