She is a Steffie sculpt made by Estrela, a Brazilian company, manufactured under license by Mattel in 1989. She was created for the 30th Barbie Convention, I believe though she may have also been for sale on the Brazilian market, and she is not as difficult to find as other Estrela dolls.
She has a pink skin tone, like a Canadian Standard Barbie, articulated wrists, green eyes, and red hair with light blonde streaks. Her outfit doesn't exactly scream 1989 to me--but I find it really interesting.
I got mine in a really amazing trade--and she isn't actually NRFB, which is even better for me (so I can take her out of the box without feeling too guilty).
See more photos of her on Flickr.