"Variant of Malka"
The name Malky is commonly a female name from the "Hebrew" origin.
Malky is a Yiddish familiar form of the Hebrew name Malka, made with the diminutive ending -y. Malka derives from the Hebrew word for queen, so Malky carries the same sense rather than a separate meaning of its own. It is an Ashkenazi Jewish name, and the -y ending marks it as an everyday or affectionate version of Malka rather than a distinct name.
Malka means "A queenly woman".
The pronunciation of Malky is MAHL-kee.