It's Definitely A Va-Va-Voom Bag by Valentino
I originally saw this gorge bag on Gwynie in one of her GOOP emails, which, btw, I do love. So, don't hate on GP! It's so girlie in it's pink patent leather and stud-ness. And made by none other, Valentino. Voila! And I am so serious when it's called the "Va-Va-Voom Flap Shoulder Bag". Divine! And of course...it's currently sold out at Nordstrom! Sigh.