Perplexing. It definitely looks like George VI's order (while we can't clearly see the center pendant, the ribbon is an exact match). The sources I could find said the orders are given to female members of the royal family and - on occasion - a high ranking lady of the court (such as the Mistress of the Robes). But those sources also said the only surviving members of George VI's order are the Queen and Princess Alexandria, the Hon Lady Ogilvy.
Also, the British monarchy's own website indicates that only female royal family members now wear them: A quote: "The Orders are now worn on formal occasions by female members of the Royal Family only. The Queen and her late sister, The Princess Margaret, were given their awards by their father, George VI, and both wore them as young girls at the coronation of their parents in 1937."