There are many word combinations that you can use without being linguistically wrong. However, it's more a oh the context you're using the word for. As for conversation, what sounds right or wrong relies mainly on whether something is often used or not. It's unusual to say "slinky dress" when you can say "soft dress" or smooth, or any other usual adjective.

It's not a word I hear often. Slinky can also apply to people: Graceful and sinuous or seductive in movement. It used to be a children's toy. It was a spring that could go down stairs by itself.

In English slinky is usually just used to refer to the noun (which is a type of toy). Another way to use it as an adjective other than to describe clothing could be "a slinky voice". "A slinky voice" would be used to describe a voice that is smooth, slow and attractive.