This is one of the concept sketches for a Little Red Ridinghood sprite.
I was itching to create some flash-stories involving Little Red Ridinghood. Since no RPG sprites of her were available, I had to create one from scratch. I drew these concept sketches to clearly define her personality in my mind before I started her sprite. That way, every detail of the sprite would convey her personality in some subtle way. And this would happen automatically on a near-unconcious level while creating the sprite simply because I had the concept art visible in front of me to reinforce the concept.
I wanted a character who would naively walk into sexual situations. So she needed to appear young enough to look naive, but not too young to appear sexy. These were accomplished primarily through the proportions of her hair, the figure of her body, and the design of the outfit. It's a carefully balanced mixture of improbable elements.
Cautionary fairytales seem to really lend themselves to sexual parodies.