lollipop vs lolly

lollipop and lolly both are nouns.

Word	Noun	Adjective	Verb	Adverb
lollipop	Yes	No	No	No
lolly	Yes	No	No	No

As nouns, lollipop and lolly are synonyms defined as:

Other synonyms of lollipop include ice lolly, popsicle.

lollipop (noun)	lolly (noun)
hard candy on a stick	ice cream or water ice on a small wooden stick
ice cream or water ice on a small wooden stick	informal terms for money