I think the dress is definitely appropriate for a semiformal. It's not the typical 'dressy' material, but it's cut is really chic. I wore mine with black heals and gold jewelry. As for your accessories, I'd say it's totally up to you.

I think it would be perfect for homecoming if bought in yellow or black. The navy looks very casual though and I'd imagine the violet and grey would too.The dress is an ideal length for homecoming and can definitely be dressed up or down depending on how you accessorize.

I'm 5'7 and a size 4/S. I bought it in a size small. I think the most important factor is bust size. I'm a 34B and a small fit just right. If you're smaller chested, I'd defintely get the XS. If not, I'd go off off your regular size. Just remember, you don't want to get it too big in a strapless dress or you'll be tugging on it the whole time. The elasticity isn't super strong at the top. Good luck with your decision.

Since it's mostly cotton ironing should be okay. normally you should iron on a high setting with cotton but since there is spandex i would keep the heat lower.