1560 Lucrezia di Cosimo de' Medici by Agnolo Bronzino (Galleria degli Uffizi - Firenze Italy)
This is essentially a close up from the last portrait, but not done with a camera or Photoshop. This Bronzino hangs in the Uffizi.
From petrus.agricola's photostream on flickr.
The way tassels are attached to the ruff are shown in this 1560 Bronzino close up related to the last image. This also shows the ruff could be part of her chemise or part of her bodice.
Keywords: 1560, Bronzino, Lucrezia de Medici (1545-1561), Medici family, Este family, Duchess, Italian, jeweled headdress, high neckline, collar, ruff, tassels, chemise, modesty piece, French sleeves, slashed sleeves, slashed bodice, earrings, brooch