LOVE. I believe this watercolor and its subject are Dutch, and believe she is wearing a traditional Fresian (of Friesland, in the northernmost part of Holland) "ear-iron" headdress, consisting of a wide band of metal fitting around the back of the head with ornaments at the temples. The shape and style of the ornaments --made of gold, silver or brass, and worn with a lace bonnet--were indicative of a Fresian woman's status, their husband's or son's profession, their locality, or even their religion. The combination of it, her face (such narrowly placed, very blue eyes!) and her brilliant orange-red and blue costume make her feel both super contemporary and also as if of another planet to me--and completely full of breath. A small watercolor but a powerful life force! 

3 3/4" x 2 15/16". Watercolor on laid paper.  Excellent condition, brilliant color. I would guess c. mid 19th century.