When I found this I had to question whether it might be a print as the detail is quite amazing, but it is indeed hand-done, watercolor and gouache I believe. There is an embossed stamp to the upper left corner of the board, which I can't quite read but which features what looks like a leafy fleur-de-lys; I might have guessed this was British, but it seems possible from that that it could be French. I'm a sucker for Peonies, and can almost smell these, and almost touch them too! 

15" x 12 3/8", painted on lightweight board. There is a water stain over the left edge of the pale pink Peony near the bottom; otherwise good condition with some light smudges and stains here and there. Mid 19th century I believe.