She is the mother of two adorable little girls---the wife of Prince Philipe (heir to the throne).
Her full official title is: Her Royal Highness Doña Letizia, Princess of Asturias, Princess of Viana, Princess of Girona, Montblanc, Countess of Cervera and Lady of Balaguer.
The Prince stands behind mother and child. That's her mother and father (L-R).
King Juan Carlos and his wife (who lunched with Mrs O) are pictured.