
That's Carole Lombard in Paramount p1202-414, likely taken by Eugene Robert Richee in late 1932 or early 1933. It was on sale at eBay last night, but someone apparently bought it before I could make that the theme of today's entry. So it's on to plan B.
This portrait was one of several at a session showing Carole in a nightgown, often sitting in a chair. They are fascinating to examine together, as they reveal the intricacies of the photographer's craft, especially regarding lighting. We'll begin with p1202-418 (which we know was taken by Richee)...

...and p1202-421:

An altogether different aura was achieved by having Carole stand up and shining a light on the flimsy lower half of the nightgown, leading to a silhouette of those lovely Lombard legs. To see just how seductive this effect appears, check out p1202-415...

...p1202-416...

and p1202-420:

Also from that session, but with no p1202 number I can confirm, is this pose:

Using a cigarette as a prop has little appeal for 2012 eyes, but back then it was deemed somewhat sexy. (Ah, the changes 80 years can bring!)
Perhaps there remain a few more images from that session, just waiting to be uncovered by classic Hollywood photo sleuths.