Since nothing more precise than Indus Valley is given, I have placed it in Mohenjo Daro.
Original description says:
This beautiful figurine with her rich applique’ ornamentation would have probably been used as a ludic entertainment, although the high number of excavated examples would also seem to point out to a permeating belief in the magic aura of the feminine spirit, so beautifully portrayed in such a simple, yet refined way.
For comparable examples see: Jarrige, C. Les Figurine Humaines au Baluchistan, in Les Cites Oubliees de l’Indus, edited by J-F. Jarrige, 1988: pp.65-70. – (LO.567)