This is your classic flapper dress. The Flapper got its name from young women who were like young birds, flapping their wings out and away from the nest. They typically were sleeveless with dropped waistlines.
Zelda Sayre Fitzgerald - American novelist and wife of writer F. Scott Fitzgerald, an icon of the - dubbed by her husband "the first American Flapper." (This isn't Zelda it's a random flapper or an actress that portrayed her in a film).