The English preferred sleeves that were puffed around the lower arms as shown by the portraits of her sister Mary I. Elizabeth here wears a French hood.
Herbert Norris describes this portrait in Tudor Costune and Fashion, p. 285-286 (Dover re-issue 1997) - "In it she is shown wearing a costume made of red and gold brocade, tge sleeves being lined and turned back with crimson velvet. The false sleeves appear to be gold tissue, the cuttes being outlined by narrow black velvet. The French hood with its pearl decoration and the Princess' jewelry, should be a subject of careful study."
"The gown, including the turned back sleeves, is of crimson cloth of
gold damsk. Note that the sleeves are cut very close fittingat the top
of the upper arm. The elongated false sleeves, ornamented with cuttes
of jewels in gold mounts surrounded with pearls, and the underskirt are
both of silver-grey satin with 'the woorks,' i.e., embroidered with a
raised pattern in gold."