Finni and her German boudoir doll (sofapuppe), also known as Revue Girl.
I was told this photo is from a collection taken by artist, Ludwig Munich, who coincidentally was from Munich, Germany. The photo was taken in 1928, and was part of a portfolio entitled "Erinnerungen aus der Jugendzeit" (Memories from Childhood), and came from his daughter's estate. The photo is mounted on cardboard, and has his daughter's name, "Finni" (nickname for Josefine), and his monogram signature & date of 1928. Ludwig was a watercolor artist (botanical & landscapes) and, apparently, he was a photographer. Ludwig served in uniform during WWII, but in a non-combat role with the German Red Cross (Deutsches Rotes Kreuz).