She is a person worthy of being called a lady.

Literal

[topic-は] lady [quotative-と] call [for-に] worthy person [explanatory-だ].

にふさわしい ('appropriate for, worthy of') is a な-adjective construction expressing fitness or appropriateness — typically with に marking the standard against which something is measured. ~と呼ぶにふさわしい is the standard pattern for 'worthy of being called X': the quotative と marks the title, 呼ぶ ('to call') governs it, and にふさわしい qualifies the worthiness. レディー is a loanword carrying connotations of refined Western gentility, distinct from native words for women.