Need help using this piece!

I just got this beautiful piece off Facebook marketplace. I know it’s somewhat costumey but I want to find a way to style it in an elegant way. I feel like I could make this wearable for certain events I just need help. Clearly it’s a somewhat Victorian piece but maybe I could add a modern touch? I think it’s missing a piece underneath but I don’t even know what that would be called. I want to hear what other people would do with this though?