When Gulaal first met Talli and learned her name, Talli asked her to hit her hand (when Gulaal looked confused about her name). So, I took it to mean that "Talli" is their version of saying "Taali" (Hindi word) for "clapping." It made sense to me because you get (or used to get) all sorts of different types of names in the villages (in my mother's village, one man was literally named something that translates into "wrinkles," while another one was named "seventh one" being the seventh child, and yet another was named "throw-away" since he was born so long after his siblings). Of course, it could also be her nickname; on a recent visit to the village, I met a brother and sister (kids) nicknamed "jumpy" (boy and girl versions of the word), because they liked to jump a lot when they were younger.