귀염둥이 is consist of 귀염+둥이.
1. 귀염 is noun from 귀엽다 which is verb.
※ 귀엽다(verb) → 귀여운(adjective) → 귀염(noun)
2. 둥이 is a kind of suffix which means people who are so quite and lovely.
it is noun as well.
So we can easily say "귀염둥이" when we see a lovely baby.