The term likely originated on parenting forums and Amazon review sections. Parents would type "dress that goes round when you spin" into search bars. Eventually, sellers and SEO specialists shortened the phrase to its current catchy form.
In the modern translation, the "Princess" is any person holding onto the brass ring of dignity in a chaotic world. The "Go Round" is the daily grind—the commute, the laundry, the heartbreak, the healing. PRINCESS GO ROUND