No, her usual hair bow is red, just like this one. There are a few images where she doesn't have a ribbon in her hair at all, but I couldn't find a single image with her wearing a white ribbon rather than a red.
sgcdonmai said: Sakura's ribbon is white, and she doesn't have an ahoge. It's definitely not her.
Yeah, I dunno where you got the idea that Sakura's bow is white from. You must be thinking of an entirely different character, because the bow she wears throughout FSN (in the game and in the anime) is red. She also has about the right-sized breasts to be Sakura, too, and she looks like Sakura to within the level of error that you'd expect from a fan-made drawing.
The ahoge is a red herring, I'd imagine. No, Sakura doesn't have one in the game, but there is such a thing as artistic license. Her ribbon is in the right place and is the right colour (despite what you seem to think), her hair is the right length and colour (to within the margins of error usually seen in Sakura pictures) and her breasts are about the right size. I'm 99% sure that this is Sakura.
I found the source for this image. She's NOT Sakura... She's Kamishiro Yukari from the game Gift by Moonstone. Have a look at post #178405 for a clear view of her.
She's -is- a dead ringer for Sakura though, to the point where I'm tempted to scream "ripoff!". I find it very hard to believe there is any way an artist could come this close to a character as well known as Sakura by accident...