This is a
very nice antiquarian (circa 1900) caricature done by Georges Goursat, a popular caricaturist of France's "Belle Epoque" period who was known as "Sem" and whose drawings typically featured the social elite, actors, singers, politicians, and the like who frequented Maxim's, Longchamp Downs, etc. He published many of his drawings in various French newspapers and magazines (see a photo of SEM directly below).
Georges Goursat (Sem), 1914
The caricature is a signed ("SEM"in lower right corner) original hand-colored pochoir lithograph print on woven paper from about 1900. It is an original antique print and not a modern reproduction.
This caricature shows a lady identified as the French actress Wanda de Bonzka.
Condition. There are creases and small tears through the depiction (please see close-up photo directly below).
There is toning, especially around the edges and at the top and bottom borders. The picture had apparently been stored or framed with the top portion covered--as can be seen by the difference in coloration. The edges have wear and tears and creases, common imperfections associated with age.
All in all, however, the primary depiction of the subject is, in and of itself, in fair condition.