After checking the fabric out again I think I kind of have to do this:
The fabric I have is really nearly perfect and since I have it in the STASH it counts as de-stashing! Woo-hoo! I've got the corset and other undergarments already and a lot of pattern bits and pieces I can Franken-pattern into something resembling the artwork. I'm thinking the Truly Victorian 1905 Circular skirt, and 1890s sleeves view 2 and a bodice I've drafted with added points.
I'll have to wear a wig if I really want to channel Ariel but I think it's a small price to pay.
And while it's a Disney Princess it's also a viable pseudo-historical ensemble I can wear to 1890-1900s events.