A term used for a tiny little girl, who is almost a dwarf.
Look at that girl, she must be a Margit.
A margit is something you call a boy or a girl, who is almost small enogh to be a dwarf in scandinavia. So instead of calling people Dwarf, or little, or mock them with their exact height (people who aren't very tall, tends to hate other people bringing up their height) then you just call them "a Margit".
"So how tall is your friend, William?"
"Well... She's a bit of a Margit"
"Ooooh, I understand. Nice of you to not just tell me her exact height. I bet she wouldn't like that"