Arla Farley and her friend, Lottie Giles-Dawson, both aged 10, appealed to pupils and staff at Cooper and Jordan CE Primary School and local businesses to provide sponsorship.
They collected cash donations in Morrison's in Aldridge totalling £760.80 pence and have raised a total of £2,363 for the charity which provides wigs for children who have lost their hair while undergoing cancer treatment.
The dynamic duo have also gained money from door-to-door donations.
They visited hairdressers at The Sanctuary in Aldridge to have their locks cut and short hairstyles.
Arla's hair measured nine-and-a-half inches long and Lottie's locks were some 17 inches long.
After the chop Arla, who chose to have her hair cut into a short bob, said: "I hate the short hairstyle but it will grow back and this will help people with cancer."
Lottie, who decided on a shoulder bob, said: "I preferred my hair long but think I will get used to the shorter style."
Mother-of-two Josephine Farley, a 45-year-old estate planner, said: "I am so proud of what the girls have done and they have worked so very hard to raise funds.
"They are still hoping to meet a target of £2,400 which would pay for four wigs to be made and have donated enough hair to make two wigs.
"I lost a very close friend, Kayleigh Moseley, who was 34-years-old and a mother-of-four, to cancer in March this year and my daughter, Arla, was aware of how difficult it was for her when she lost her hair through treatment.
"She decided to raise funds for The Little Princess Trust charity which helps children undergoing treatment and her friend, Lottie, agreed to join her in the challenge."
Anyone wanting to donate to the appeal can do so through the lottieandarlacuttheirhair justgiving page.