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Pronunciation OK, though the French tend to stress each syllable equally, so not so heavy on the LEE bit.
It is a diminutive of Joli, one of a couple of dozen variants of this word found as surnames; Jolet, Jolin, Jolivel, Joliveau, etc. Joli can mean "pretty, neat, pleasant, nice", etc. As a surname it could also be ironic, i.e., meaning not so nice.