lolly vs lollipop

lolly and lollipop both are nouns.

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

As nouns, lolly and lollipop are synonyms defined as:

Other synonyms of lolly include ice lolly, popsicle.

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