Which is why we were delighted with this news - the blond-haired, leggy lady has had a makeover (and we can kind of, if we squint, see ourselves in her now).
Barbie's creators, Mattel, have released a new range called the 'Fashionistas', who boast three new diverse body types, seven different skin tones, 22 eye colours and a grand total of 24 hairstyles between them.
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Tall, curvy and petite girls are now immortalised in Barbie form and come with everything from afro hair to a rather trendy new shaved style, and we couldn't be happier about it. Because, you know, the beauty of diversity is quite a nice thing to show our kids.
Barbie hope these dolls will help 'girls everywhere have infinitely more ways to spark their imagination and play out their stories'
Evelyn Mazzocco, Global General Manager of Barbie, said 'We believe we have a responsibility to girls and parents to reflect a broader view of beauty'. Finally, somebody's said it, Evelyn.
It's been a bit of a busy week for our old friend Barbie, as it happens. Along with her new-look reveal she also graced the cover of Time Magazine in all her curvy glory, with the magazine celebrating the change.
And in the way of the world these days, Twitter came alive with the news, and everyone seeming very pleased at the change.
Actress and Singer Queen Latifah certainly seemed happy about it, taking to Twitter to say, 'What a powerful moment for @Barbie and this is just the beginning. Barbies for every kinda girl. #TheDollEvolves'
While the rest of Twitter seemed to echo her thoughts with one user, Selina Gigi, saying '#diversity is best. So happy is see it in @Barbie dolls. :-) #TheDollEvolves.
The new Barbie range is currently only on sale in America but is lined up to be available worldwide by spring 2016.
Names of the new models include Petite-Love that Lace and Curvy-Everyday Chic'
We believe Barbie is also finally permitted to wear flat shoes now. Hallelujah for that, her poor toes deserve a break.
Now, we don't want to be the ones to dampen the party, but WHAT will we do with all those Barbie clothes that don't fit her anymore now she's all different (and very lovely) shapes? Perhaps there's a demand for them on eBay...
So, what do you think? A massive step in the right direction for a firm childhood favourite or still not enough? Let us know in the comments below!