From eBay; sepia tone removed by gogm.
Elisabeth wears a pre-War dress with a tight skirt, overhanging sleeves, what appears to be an over hanging bodice, and double neckline in this photo.
Keywords: Queen Elisabeth of Belgium, Wittelsbach family, Wettin family, Princess, Queen, bouffant coiffure, scoop neckline, partlet, vee neckline, elbow length close sleeves, cuffs, blouson bodice, natural waistline, tight skirt, under-skirt, train, necklace, bracelets, shoes