From historicalportraits.com/Gallery.asp?Page=Item&ItemID=924&Desc=Noblewoman-%7C--French-School. Also posted to the Late Farthingale Era - 1590 to 1620 Album here.
The sitter appears to be wearing a black dress and jet jewelry with color added by her wide partlet and ruff. This could be a satire.
Keywords: French, curly coiffure, jeweled feathered brim cap, partlet, pyramidal neckline, wide neckline ruff, draped necklace, jeweled fitted bodice, off shoulder crescent neckline, jeweled sleeves