This garment was crafted and enchanted 200 years ago for a renowned performer and successful adventurer, Bella di Prix of Lockwood. In its original form, the bodice is a leather cuirass of surpassing craftsmanship.
The armor is equivalent to magical Studded Leather, +2, giving a base AC of 14.
With the proper series of incantations, the garment changes its appearance into whatever clothing/armor the enchanter chooses. However, magic being what it is, this armor has four forms that it seems to favor. Changing out of any of them is a difficult task while changing into one of them seems effortless.