Suspect signature and date were added later as drawing style is not conducive to that of the late 1860s, looks more likely to be c.1872. The design for The Hours of 1865, was taken up again in 1870 and it is possible that the present head is for the figure second from the left, who represents washing.
This drawing can be associated with any number of works Burne-Jones was working on in the late 1860's, many of which heavily feature Maria Zambaco (this is said to be of her, but the likeness is uncertain). It is most likely that this is a study of Psyche for the 'Cupid and Psyche' series of paintings, in particular, 'Cupid Delivering Psyche', begun in 1867, now in the collection of the London Borough of Hammersmith and Fulham Libraries. Bequeathed by James Richardson Holliday, 1927.