wikipedia has an interesting article or two on body hair... and on how fashions / cultures change through time. with respect to pubic hair removal too.
i had a drunken conversation with a guy at a party once. he was european (danish) and we got to talking about pubic hair. he said something about how all removed is his distinct preference and so of course i asked him whether he removed all of his. he said oh yes indeedie he did. he said that (to the best of his knowledge) that is standard in denmark / europe. in his circles anyway (soccer players and the like).
so... i'm not sure that it is a little girl thing in particular... the same reason you get rid of underarm hair (odour) could apply...
my main issue with mine... is the pain of waxing, yeah. ingrown hairs. there is that. can you wax down there? i mean i know you can do bikini lines but i thought it was shaving after that... hrm... maybe i'll give it a go one day... but last time i shaved parts hurt with their rubbing on my jeans. ow.