Here are some possible interpretations:
* Positive: Expressing admiration or endearment, like "What a beautiful princess!" or "You're such a princess!"
* Sarcastic: Expressing a sense of annoyance or exasperation with someone who is acting entitled or demanding, similar to the English phrase "What a princess!"
* Neutral: Simply describing someone who is royalty, without any particular sentiment.
To understand the true meaning, it's important to consider the context and the speaker's tone.