Stems from baby, there are many abreviations; baybeebabiebaibiebabee etc. all refering to a good looking girl. Females use this phrase when talking to each other or describing themselves. It is a form of flattery, though not used by males as it is to girly.
Bffl babeh girl love you
See babey, baby, babah, bubuh, babs, babes, bitch, baybee, bubs