Born to Lady Elizabeth Butler and Philip Stanhope, 2nd Earl of Chesterfield, her paternity was in doubt.

She was the subject of three portraits in mezzotint published by Alexander Browne after Sir Peter Lely.

Lady Elizabeth was born in May 1663 at Bretby, Derbyshire, the daughter of Philip Stanhope, 2nd Earl of Chesterfield, and Lady Elizabeth Butler, eldest daughter of James Butler, 1st Duke of Ormonde.

Her father had been the lover of the notorious Barbara Villiers, mistress of King Charles II of England.

[1] Historian Antonia Fraser describes Elizabeth's mother as having been one of the mistresses of the Duke of York.