Sanhedrin 20a #1: "Sheker ha'Chen" refers to Yosef. "V'Hevel ha'Yofi" refers to Bo'az. "Ishah Yir'as Hashem Hi Sis'halal" refers to Palti ben Layish (refer to 31:29:1:1*).

Sanhedrin 20a #2: "Sheker ha'Chen" is the generation of Moshe. "V'Hevel ha'Yofi" is the generation of Yehoshua. "Ishah Yir'as Hashem Hi Sis'halal" is the generation of Chizkiyah. Malbim (Derech ha'Muskal) - via Yir'as Hashem in their hearts, individuals reached higher levels over previous generations).

Sanhedrin 20a #3: "Sheker ha'Chen" is the generation of Moshe and Yehoshua. "V'Hevel ha'Yofi" is the generation of Chizkiyah. "Ishah Yir'as Hashem Hi Sis'halal" is the generation of R. Yehudah (they learned amidst awesome poverty). Six of his Talmidim would cover themselves in one garment, and learn.

Rashi: A woman of Chen and beauty, they do not praise her. All is Hevel and Sheker. Only a woman of Yir'as Hashem will be praised.

Rashi (31, according to the Mashal): This refers to all idolatry, Their grandeur and beauty is Hevel.

Vilna Gaon: Sheker ha'Chen is one who learns in order to find Chen in the eyes of people. V'Hevel ha'Yofi is one who does to be pleasing to Hashem and receive reward. One who does amidst Yir'as Hashem, because Hashem commanded, will be praised.

Malbim (Derech ha'Muskal): Many Nefashos perfected themselves. They attained Chen and Yofi for their Sechel and good deeds. You rose above them; compared to You, they are Sheker and Hevel. You are praised for Yir'as Hashem. Via this, you merited Ru'ach ha'Kodesh and vindicated many.