This is an aneurysmal bone cyst (ABC).
This is an aneurysmal bone cyst. and the major differential is giant cell tumor of bone (which occurs in the epiphysis, is more cellular, does not have periosteal reaction, occurs more in adults, and has a tendency to recur after resection).
ABC's have a female predominance and occur in children to young adults. Vertebra, femur, and tibia are most often affected.
There is a tendency for these lesions to undergo malignant transformation when radiated.