I rather like it, although Jodie Foster / Bugsy Malone was my automatic association, too! (Great film, so that's a positive, IMO).
Would depend a lot on the combination with middle name(s) and surname, I think. Probably not Talulah/ Tallulah Amaryllis Fotherington-Smythe, for example... 
But, yes, it's pretty. And Lulu/ Lou/ Lula are cute NNs.