No in the movie, it's a young women that Chevalier is singing about. She is less than 21 but over 18, which at the time was still considered a girl in legal term. Any way, that age group for an older man looks so young, doesn'it? Hence the popularity of the "barely legal" and the "young tarts for old farts" series.
Butler in "Gone with the wind" does not want O'Hara to have a boy "Who needs them" and he is marvelously in love with his daughter, a very little girl.