This ukiyo-e was painted in 1934 by one of my favourite Japanese painter, the famous Itô Shinsui 伊東 深水 (1898-1972).
This lady is performing the Lion Dance literally named 鏡獅子 Kagami jishi (Lion Dance) 1934.
Lion dances are a symbol for new beginnings. Traditionally they are performed twice a year at a dance celebration at a Shintô shrine. But they are also part of theatre plays like in Kabuki. It is meant to chase away the evil spirits and to bring good luck.
In Japan these dances occur normally in January at New Year’s Day and during the spring season along with the cherry blossom festivities.
Yasujiro Ozu 小津 安二郎 made a film about the Kabuki called Kagami jishi, where a lion dance is performed by the Kabuki actor Omoye Kikugoro IV in 1936. It is around the same time as this ukiyo-e was painted.
On YouTube you can see the movie and get an impression of the music and dance.