On the eve of the Feast of Our Lady of Walsingham, the attached image explains the iconography of the famous statue.
(Taken from the Catholic Encyclopedia) “Walsingham was the most celebrated of all the English sanctuaries of Our Lady. So great was the veneration in which it was held that it was called the “Holy Land of Walsingham“. About 1061 a little chapel, similar to that of the Holy House of Nazareth (not yet translated to Loreto) and dedicated to the Annunciation, was built here by Rychold (Recholdis) de Faverches, a rich widow, in consequence, it is said, of an injunction received from Our Lady. Within the chapel was a wooden image of the Blessed Virgin and Child. Pilgrims flocked from all parts of England and from the Continent to this sanctuary, and its priory became one of the richest in the world. Among the royal and noble pilgrims were: Henry III, who came in 1248; Edward I in 1272 (?) and 1296; Edward II in 1315; his consort, Isabella of France, in 1332; Edward III in 1361; Edward IV and his queen in 1469; Henry VII in 1487; Henry VIII in 1511, walking barefoot from Barsham Hall, on which occasion he presented Our Lady with a necklace of great value; and finally Queen Catherine of Aragon in 1514.”