I was going to say it looks like a travesty until I saw some of the other ones in the slideshow **sugar and spice **posted. Now I still think it looks like a travesty, but no more than the other ones. It fits in stylewise just fine. This is not necessarily a compliment. 
Miss Albania scared me, too. Is anybody else enough of a Harry Potter geek to think she looks like she’s trying to be Mrs. Voldemort or something? 
Any one or two of the elements of the costume wouldn’t be so bad… but when you put it all together, it’s a horrible mess.
An illustration of what I meant:
Miss Bahamas is clearly a sun-goddess. It’s crazy-flamboyant, but it works.
Miss Cyprus and Miss Greece are simple and classical.
Miss Finland could just be going on a picnic.
I could see Miss Guam and Miss Montenegro dressing like that for the Prom.
Miss Netherlands, OK, that’s silly, but at least it’s all silly in the same way. She’s a windmill, windmills are Dutch.
Miss Panama is some sort of butterfly dragon thing, but again, it’s all one thing.
couldn’t work up something along Ned Kelly-ish lines for a national costume?
The new Miss Australia outfit is all one thing. It’s barbarian-chique.
That would be hilarious and awesome. “Dress… dress… dress… full plate!?”