Cherry doesn't say too much about Dally. Her comment about Johnny having been hurt real bad one time indicates that Cherry is a great observer of people, and it leads to a fantastic flashback sequence.
Regarding Dally, though, Cherry only makes two specific comments in chapter 2.
"Besides that, I've heard about Dallas Winston, and he looked as hard as nails and twice as tough."
That line came soon after Cherry and Marcia told Dally that they didn't appreciate his dirty talk and asked him to leave. Dally didn't leave until Johnny told him to lay off. Then Dally left. Cherry invited Johnny and Ponyboy to sit with her and Marcia. Johnny asked why the girls weren't frightened of them. Cherry responded by saying,
"First of all, you didn't join in Dallas's dirty talk, and you made him leave us alone. Aid when we asked you to sit up here with us, you didn't act like it was an invitation to make out for the night."
Then she told Ponyboy that she has heard of Dally before. That tells the reader that Dally is not only a respected Greaser, but a sort of famous force to be reckoned with. His reputation precedes him wherever he goes.
About a half a page later Cherry says, "I kind of admire him." Perhaps she admires his toughness and his "devil may care" attitude. Perhaps she admires his devotion to his Greaser brothers. Cherry doesn't elaborate on why she feels this way.