This is how Thelma Todd looked in her earlier roles at the Hal Roach studio. It says, "To 'D' - with fondest regards, - from one blonde 'huzzy' - to another ( I'll get that fox yet ) - Fondly - Thelma. "
"Blonde huzzy ( hussy )" presumably refers to the type that she played in the movies, and is intended to be humorous. "That fox" I would interpret as a reference to a man she is interested in, whose identity is not certain. The identity of the "D" that this is addressed to is also uncertain.
A
