This is one of those gorgeous pin-up girl pictures that might have been pretty risque in it's day (1950s), but is as sweet as vanilla ice cream now.  A lovely lady with legs up to there is showing them off along with her black underwear in front of a big red heart.  The artist cleaned up the picture, reduced the it to fit this frame and laminated it.

 

The necklace and frame is of the artist's design (with an ivy pattern on the edges) and was manufactured for her. You cannot get it anywhere else and they are not sold separately. It measures from the outside edges, 1¼" x 1 11/16" or 32mm x 40mm. It comes in antiqued silver-plate and was designed it to be a larger format allowing the art to be better seen. It does open up, a new picture can be slid into the frame. The chain necklace measures 18"long.