Look at the joy on her face. If this is a spontaneous, impromptu reaction on her part, it's sheer bliss. If it isn't, and this scene was set up beforehand, she's truly showing off her skills as an actress. What's it about? Let the caption on the back of the still tell the tale:
"A GIFT FROM AN ADMIRER -- Carole Lombard, receives a potted Spring flower from an admirer as she ascends the steps into Paramount Studio for the day's work in her current picture, 'The Princess Comes Across,' (tent.title)."
As most of us know, that became the permanent title, and in fact Lombard is entering in something similar to her "princess" costume. (See the film to discover why I put quotation marks around the word "princess.") The film was released in May 1936, about two months after this photo was received by a media source (which one, we don't know).
The photo, Paramount P1202-1219, is now available at eBay, although it is more sepia in tone than this modified greyscale version. It can be found at http://cgi.ebay.com/VINTAGE-STILL-1935-SEXY-CAROLE-LOMBARD-PHOTO-V17_W0QQitemZ200308132683QQcmdZViewItemQQptZLH_DefaultDomain_0?hash=item200308132683&_trksid=p3286.c0.m14&_trkparms=66%3A2%7C65%3A1%7C39%3A1%7C240%3A1318. Bidding starts at $24.99 (no bids have been placed as of this writing), and goes through just after 9:15 p.m. (Eastern) on Sunday.
And so what if it's "potted"?