As has been stated multiple times by multiple posters in this long thread, Mac OS X does not offer the exact feature you are asking for. It offers protection for ALL your files, but in a different way.
Give your girlfriend her own Account, and she will have full access to all the Applications but will NOT be able to access any files you created on your account. Do not leave the computer logged in to your Account with an unlocked screen when you step away from it. This effectively locks not just all the running Applications, but all your emails and every other document on your Account. Those kinky emails from Fifi will be unreadable as well.
This is because Mac OS X is already built as a Multiple-User system, and provides very good protection from other Users and Guests if you simply create additional another accounts (or use the Guest account) and take advantage of the many protective features already implemented.
If you have a specific situation you would like addressed, please start a new thread with a title that will attract the readers you want to discuss your distinct requirements.
If you just "me too" on the end of this long thread, without reading and thinking deeply about the solutions already presented, Readers are unlikely to be patient or kind to you.