Two-character feminine transliteration:
莉 ('Li-') +
丝 ('-z/-s').
莉 (jasmine) and
丝 (silk) are both stock feminine characters in name transliteration.
莉丝 typically renders Liz, Lis, or the second half of longer Molly-type names. Compare
丽兹 (Lìzī), another common rendering of Liz.