It took someone else to identify the object in the hand of this woman as most likely a fan; what I see is a sharp weapon, casting this woman as on her way to becoming a murderess! The black of her dress gives the sense that she is in mourning, and so I imagine her as poised to seek revenge! I find the whole thing quite wonderful, with hand-cut black paper for the silhouette of her head, heads and feet, and a marvelous interplay of dark silk and handmade black lace for her dress. 

Framed: 10 1/2” x 8 1/2”. Sight: 6 1/16” x 4 1/8”. There is an obvious stain to the paper along the right side; otherwise good condition. Sold in the period frame I found it in, which I think enhances the drama of it just right. C. 1870s or so I would guess.