Edwardian girl (1911)

Apparently a companion piece to this photo ("Vintage hand colored real photo postcard, circulated in 1911, divided back, published by Gustave Liersch & Co. (GLCo), Berlin, Germany. © Casas-Rodríguez Collection, 2009. Some rights reserved.)

Found at Vintage Photography. 

Addendum:  The young model's name was Grete Reinwald (dozens of photos and some biographical information at the link).