I have never seen a photo is this shape; have you? It looks like a bookmark. It is definitely not a photo postcard that has been cut down, but it is of a similar weight to a photo postcard. This lovely lady glows in the soft back lighting that was popular in studio portraiture in the 20s and 30s.
Who Were They? 
I have had some longer photos..but never one that has been as narrow as yours seems to be..it must have been a special item..yes I agree a bookmark:)
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