1987 Jewel Secrets, #1537

We're into the Really Big Hair Era, and six-pack abs (and very tight shorty-shorts), and extremely weird waistlines.

I know there were actual dolls in this line, but I can't remember why their skirts were so odd.
(Google is my friend: the skirts on the actual dolls also turned into drawstring purses. That accounts for the odd construction, though not for the notion of a skirt that turns into a purse).