what you have there is Andomeda, chained to rock so that a sea monster can munch on her. Perseus is about to appear and make a deal with her parents that he can marry her if he defeats the monster. unfortunately, although he did defeat the monster, there was some huge fight afterwards, very ugly indeed. maybe others can fill in more details or suggest other possibilities. nice picture though. i can't make out the expresion on her face.
Another of Ovid's masterpieces;
Metamorphosis of course.
...
Cassiopeia was the queen of Ethiopia. She constantly boasted that she was more beautiful than the Nyriads. Because of the queen's arrogance Poseidon sent Cetus the sea monster to terrorize the coast of Ethiopia. The King went to the oracle of Apollo to ask what should be done to rectify his wife's crime and he announced that the only way to appease the god of the sea was to offer up the princess as a sacrifice to Cetus. Andromeda was chained naked to a rock and meant to be fed to Cetus or raped depending on the version you read.
Perseus came flying by on Hermes' winged sandals in the nick of time just having seperated Medusa from her head. He told the king and queen that he would destroy the monster if they would give him Andromeda's hand in marriage. They agreed and Perseus defeated the monster. He freed his bride-to-be and was leading her away when the king's brother arrived. He was very angry to find that his brother had given away Andromeda because Andromeda was already promised to him. The king explained that she would have died and the kingdom would have been destroyed had it not been for Perseus so it was a fair trade, but his brother disagreed.
There was a party thrown in Perseus' honor where the king officially gave away his daughter. In walks the brother with his band pretending to be civil, but they end up getting drunk. The brother starts a fight and all of his men target Perseus. Coincidentally Perseus still had the Gorgon's head and after a ridiculously lengthy battle and lots of pages of listing names and how slowly they all died. Finally perseus grows bored and pulls out the Gorgon's head so that all of the brawlers turn to stone, except the brother. Perseus goes after the man, the brother begs and grovels to be spared, Perseus is offended that he is such a coward and turns him to stone as well. I think the king was severely wounded or killed in the fight as well, but I'm not 100%
Andromeda moved away with Perseus to his home where they had several sons and a daughter that they named Gorgophone after the Gorgons that he slew.