The Christmas Dress Dilemma: Which One Would You Choose?

I've been on a search for a while now for the perfect little outfit to have Princess A's Christmas photos taken in.  (And this is where I have admit that being the fourth child, she doesn't get nearly as many photos as the first but she gets special photos like this)

I had a look in mind, just wasn't sure what exactly I wanted.

Then while browsing the shops with coupon codes at www.savings.com, I happened up this adorable little outfit at Macy's.

I fell in love with the tiny overcoat, the short sleeve pleated dress, and matching beret-style hat.  It's cute yet still sophisticated.  Exactly what I wanted!

Cute is a big seller for me, but being marked down from $68 to $47 is even BIGGER!

But then I really love the Bonnie Baby santa dress I found at Macy's too!  It doesn't necessarily have that air of formality that my first pick does, but what else screams "Christmas!" like a red velvet dress lined with white faux fur?

Better yet - the price is only $29.40, marked down from $42.

AND -

I'll be able to use the great coupon codes at Savings.com to save even more! Since Macy's has so many of them there, I'll definitely want to pick from one of these two.

Oh boy, choices choices!  So help me out - which one do you think I should pick?  And why?