Meanings
A metaphorical sense of ‘mutton’ (unattractive older woman) being dressed (clothed) as lamb (a younger attractive woman) and also a pun on mutton (meat from old sheep) being dressed (prepared) as lamb (meat from young sheep), related to the obsolete word ‘lamb-fashion’ (see https://www.phrases.org.uk/meanings/mutton-dressed-as-lamb.html)
How to pronounce "mutton dressed as lamb":
AU
A middle-aged or elderly woman dressed in a style more suited to a young woman, especially if in a deliberate attempt to appear young.
Example Sentences
1
She's almost 60 but still insists on wearing mini-skirts, she's a mutton dressed as lamb.
2
The old man dyed his hair and put on trendy clothes, but he's still mutton dressed as lamb.
3
The actress tries to hide her wrinkles with heavy makeup, but everyone knows she's mutton dressed as lamb.
4
My aunt is in her 50s but she dresses like a teenager, it's mutton dressed as lamb.
5
The fashion magazine showcased an outfit that made the model look mutton dressed as lamb.