This is Dolly Madison. She was married to the 4th president of the United States, James Madison. The red dress she’s pictured in still exists but it’s so fragile that museums only display replicas. The legend of this dress is based on her escape from the White House right before the British burned it to the ground. She grabbed the new red velvet drapes from France, wrapped up the presidential china, and along with a portrait of George Washington, and headed out of town. You can see the dress in this c-span video.

Dolley was elegant and hospitable. She was a great hostess and famous for serving ice cream at the White House. Her name was abbreviated to Dolly in 1886 and in the beginning of the 1930’s The Baltimore based Dolly Madison Ice Cream Company used her in their branding.

Sources:
http://www.franklinfountain.com/2013/04/april-13/
http://greensborohistory.org/collections/madison-collection
https://www.smithsonianmag.com/history/how-dolley-madison-saved-the-day-7465218/
https://www.pbs.org/wgbh/americanexperience/features/dolley-madisons-life/