The Collaborative International Dictionary of English v.0.48:

Pearly \Pearl"y\, a.
   1. Containing pearls; abounding with, or yielding, pearls;
      as, pearly shells. --Milton.
      [1913 Webster]

   2. Resembling pearl or pearls; clear; pure; transparent;
      iridescent; as, the pearly dew or flood.
      [1913 Webster]

WordNet (r) 3.0 (2006):

pearly
    adj 1: of a white the color of pearls [syn: pearly, pearly-
           white]
    n 1: informal terms for a human `tooth' [syn: chopper,
         pearly]

Moby Thesaurus II by Grady Ward, 1.0:

118 Moby Thesaurus words for "pearly":
   Quaker-colored, acier, alabaster, alabastrine, albescent, ashen,
   ashy, burele, canescent, chatoyant, cinereous, cinerous, cream,
   creamy, dapple, dapple-gray, dappled, dappled-gray, delicate,
   dingy, dismal, dove-colored, dove-gray, dreary, dull, dun-white,
   dusty, eggshell, fair, flat, glaucescent, glaucous, gloss, gray,
   gray-black, gray-brown, gray-colored, gray-drab, gray-green,
   gray-spotted, gray-toned, gray-white, grayed, grayish, griseous,
   grizzle, grizzled, grizzly, iridal, iridescent, iridial, iridian,
   irisated, irised, iron-gray, ivory, ivory-white, lead-gray, leaden,
   light, lint-white, livid, lustrous, mellow, moire, mother-of-pearl,
   mouse-colored, mouse-gray, mousy, nacre, nacred, nacreous, nacry,
   off-white, opalescent, opaline, opaloid, pale, pastel, patinaed,
   pavonian, pavonine, pearl, pearl-gray, pearl-like, pearlish,
   pearly-white, quiet, rainbowlike, rainbowy, sad, semigloss, silver,
   silver-gray, silvered, silvery, simple, slate-colored, slaty,
   smoke-gray, smoky, sober, soft, soft-colored, soft-hued, softened,
   somber, steel-gray, steely, stone-colored, subdued, subtle, sweet,
   taupe, tender, tortoise-shell, whitish, whity