This is a 4th-5th century Egyptian statue of a Christian woman. The height is 38.3 cm, and the base is 12 x 9.8 cm. It is terracotta plaster, with details painted on. The dress is also painted in such a way as to indicate embroidery, very similar to Coptic embroidery. For more information on Coptic embroidery, please look at the Coptic embroidery and garb post.
The cross is clearly visible but I have no idea what is tucked under her arm. Any ideas?