I got this for my 2 year old daughter because we walk her brother to school in the rain some days.
I bought it at the same time I bought a Disney Cars umbrella and a Star Wars umbrella for my sons, so I'll compare with those.
The ladybug has a nicer shape, more like a bucket. It also has a mechanism that locks the umbrella open, and plastic tubes covering the spines on the underside.
The themed umbrellas are flatter, covering less of the kids' bodies, and don't lock open. They seem more cheaply made overall, and cost the same as the ladybug.
I can't say how well the ladybug umbrella will hold up yet, since she's only used it once. But it was easy for her to handle on a 10 minute walk, and kept her bone dry. I don't plan on letting her play with it; it's put away on a high shelf unless it's raining and we're going outside, so my hope is that it will last a long time.
It's a really cute and nicely shaped umbrella. I would definitely recommend it!