The skirt could easily be lengthened or shortened by changing the number of rounds between the decreases. The model in the picture is a slender 5-year-old with longish legs and a 21” chest.
3/13: The first two pictures you see were taken last spring (2012). Amalie has grown a lot since then, but she still wears this as a top, and it still looks good. This is a garment with a long life!