This is the reworked design \"Duel\" :
http://www.threadless.com/submission/138959/Duel
I reworked the wolf.

Great composition. I am a little wary about Red Riding Hood's shoulders though. The perspective seems flat and it distracts me from looking deeper into the image. Maybe imagine that the figure is turned into profile a little bit more (I guess that would be hers/our left). I would also like to see more dynamic shapes in the fabric ( bigger whirls and maybe expose a bit more of Red's face?). It is just not complimenting the depth of the image enough.

Nice work on the wolf. Although again I suggest checking your perspective. with that much of the profile visible I think both eyes should be seen and would enhance its ferocity.