This is a lovely example of late 19th century illustration art. From the photo, it appears to be a watercolor on paper.
V.G. Gebbie was Viola Grace Gebbie, who was better known by her married name, Grace Drayton. Grace Drayton was the creator of the famous Campbell Kids of Campbell Soups. Her full name was Viola Grace Gebbie Wiederseim Drayton. She was also very well known for a popular line of paper dolls.
This piece is difficult to value because it's very different from her later chubby-child-centered style. At auction, it would most likely be estimated in the range of $700-$900. For insurance purposes, a dealer at retail would most likely charge $1,500.00 - $2,000.00.
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