The Woman in Hat and Fur Collar (Marie-Thérèse Walter) is a painting by Pablo Picasso executed in 1937 and exhibited at the National Art Museum of Catalonia (Museu Nacional d'Art de Catalunya) in Barcelona, Spain.

In these portraits, Picasso carries out an exhaustive analytic exercise in which the youth and personality of Marie-Thérèse are subjected to a thousand metamorphic transfigurations.

The artist merges the frontal view of the face and the profile into a single image and turns the model into an icon of sensuality by means of a rich pictorial language in which the distorted forms marked the consolidation of the so-called 'Picasso style'.

[1] The clear connection of Picasso's works and his love life is taken for granted today, and when his art of the early 1930s is discussed, the growing phrased used is "the Marie-Therese period."

Picasso's affair with Marie-Therese was a secret, and she would gradually usurp the throne then occupied by Olga Khokhlova, the artist's legal wife.