The X Factor USA judge shared the picture on her official Twitter and Path pages.
"Loving day 2 of my Elizabeth Arden Fantasy Twist fragrance shoot," she added. "Jason says I look like Jean Harlow!"
The 1930s styling saw Spears wearing dark lip and eye make-up whilst sporting a metallic fringed outfit and wavy blonde bob. Earlier, she had shared a picture of her manager Adam Leber wearing her gold headdress from the shoot.
Spears has sold approximately one billion bottles of perfume since the launch of her first fragrance in 2004.
Fantasy Twist is Spears's 11th perfume released with Elizabeth Arden. Her previous scents are believed to have grossed an estimated $1.5 billion (£960 million) worldwide.