This is a classic and iconic skirt from Gianni Versace's ultimate collection.  His Fall 1992/93 is considered his seminal collection and rarer pieces like this skirt are becoming so much harder to find.  The skirt is made of butter soft lambskin leather in a nice medium weight.  It is studded all over with alternating golden and silver metal studs as well as is accentuated with gold tonal stitching.  

The skirt is marked a size 40, and should fit a US 4 perfectly, but please note the measurements - this is a skirt you likely will have to wiggle to get into because of the pencil skirt style.  

The waist is just at or under 25", hips are 34" and length is 22" - Right on for a size 4, right?  Well the hem circumference is only 30", so the skirt does taper at the knees for a true pencil, almost hobble skirt fit.

I have only see one other of these around, and it is a size smaller and priced much higher.