From the lost gallery's photostream on flickr; spots removed throughout image, but mainly in the background, with Photoshop.
This photo was probably taken in the period between 1910 and 1914 based on the possible waist band and close skirt. Her bodice has a center panel over wing panels that cover where her sleeves emerge. She looks very comfortable.
Keywords: María Cristina Habsburg, Crista, Archduchess, Queen, Queen-Regent, Habsburg family, Borbón family, Spanish, curly coiffure, vee neckline, lapels, lace, three quarter length full sleeves, cuffs, waist band, close skirt, over-skirt, necklace