This is one of my very favorite JLY outfits! It is so feminine and soft and sparkly. The sweater looks and feels like angora, but I'm uncertain of the actual fabric content. The rhinestones at collar and cuff are darling, as is the glittery look to the skirt and shoes. The skirt is a little prone to wrinkling and should be stored carefully.
The only thing that boggles my mind is why they went for cheap and made knee socks instead of tights. The socks are long enough that you can't tell under the skirt, but it's a strange choice given the many other holiday/party outfits made by AG over the years, which either have tights or nothing at all.
Everything fits well on both PM and Mattel dolls. I do not believe this outfit ever came with a matching hair ribbon.
I am fond enough of this outfit to want to give it an A, but the weird socks bump it down to an A-. That is purely a personal preference, though. The outfit comes available fairly regularly on the secondary market but is hard to find with its snowflake necklace (which I don't have), and that might tend to bump its price above original retail.