Hi Chivalry, The first definition of both sly and cunning means having or showing skill in achieving one's ends by deceit or evasion. I think the differences can be seen in the second and third definitions. Cunning: 2 attractive; quaint : Example : The baby will look cunning in that pink print.
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JohnParisHi,
Here is a link to the Oxford Dictionary of the English Language:
http://oxforddictionaries.com/definition/cunning
The second definition of the adjective "cunning" is:
2 North American, attractive or quaint: Example: Baby will look