To be clear: She looks ADORABLE in this first look. It's 2003 Balenciaga -- as is, I suspect, the bag -- and it is CUTE. Take me back!
This is not as bad to my eye now in full-size photo format as it was earlier when I thought the entire thing was a leather jumpsuit:

Now that I can tell it's just leather pants and a regular shirt, I withdraw my objection, your honor. Carry on!