This darling play dress was most likely made in the 1940's, and we think it looks like something the American Girl Doll named Molly would wear. We obtained it in an auction lot with two other items from the 1940's. Cut in a loose, comfortable shape, the bodice front features a scalloped collar with a tulip applique and sleeves with pleats at the shoulder. The skirt is pleated at the front and back, and the waist band has ties at the side that form a bow at the back. The candy striped fabric is light and bouncy. This would be perfect for a photo shoot at a farm, pretty much any sort of fruit picking trip (strawberries, apples, peaches), or a July 4 parade. It is pure Americana. 
It measures 26" around the chest, 24" around the waist and is 20" long from center back neck to hem, which correlates to a modern size 4-5 years. 

The dress is in good vintage condition, but the fabric has developed a marbled patina (visible in the photos). We think it only adds to her charm.