The image shown here is commonly accepted to be Queen Elizabeth I. This particular portrait could also be the Countess of Oxford (nee Elizabeth Trentham).
History states, that the resemblance between Elizabeth Trentham and the Queen was so similar she would often have her favorite Maid of Honor replace her with entertaining foreign dignitaries. The countess has been described as very comely and this is by far the prettiest of all the portraits attributed to Queen Elizabeth I.
I have been unable to find a portrait of the countess and selected this one with the thought there could be confusion between portraits of the Queen and Elizabeth Trentham.
In 2021 I was honored to participate in a The Shakespeare Oxford Fellowship's annual "Who Wrote Shakespeare?" Video Contest in which I further discuss my theory the Elizabeth Trentham, along with her husband Edward d'Vere are in fact the actual authors of Shakespeare's writings.