Lady Evelyn Stanhope (d. 1875) was the daughter of George, 6th Earl of Chesterfield. In 1861 she married Henry, 4th Earl of Carnarvon. Her daughter, Victoria Alexandrina Mary Cecil (b. 1874), was the namesake and god-daughter of Queen Victoria.
Landseer painted a portrait of Queen Victoria with the Princess Royal and the Prince of Wales, in 1842, the same year as the present drawing, for which there are preparatory chalk drawings in the Royal Collection, similar in style and handling to the present drawing (see O. Milller, The Victorian Pictures in the Collection of Her Majesty the Queen, Cambridge, 1992, pp. 142-3, no. 399, figs. 51-2). Landseer was a personal friend of the Chesterfields and this drawing was executed during an informal visit and does not appear to relate to any known oil portrait.