Central to the novel's allure and thematic depth is Daisy, a character who emerges as an enchanting blend of fairy-tale royalty and the quintessential American working girl. Krantz crafts her with a spellbinding balance, portraying her as both extraordinarily beautiful and surprisingly relatable. Daisy's radiant looks are often concealed beneath the practical attire of her demanding job — a camouflage of overalls, cap, baseball jacket, and sneakers that masks her true elegance. Despite her privileged beginnings, life's twists and turns leave her grappling with financial burdens, notably supporting her ailing sister and later, the cherished Anabel. Her struggle to make ends meet mirrors a familiar fight, yet Krantz elevates her journey to the opulent circles of America's elite: the horse-loving aristocracy of Virginia and New York's social elite.

Daisy's inner world is a captivating fusion of dream and reality, with her insecurities and fears threading through her life. Her experiences in love and intimacy are anything but ordinary, marked by a shocking affair with her half-brother Ram. This tumultuous relationship is followed by a period of near-celibacy and an intense, yet curiously unromantic, involvement with her charismatic yet self-centered boss, Frederick Gordon North. As the narrative unfolds, Patrick Shannon enters the scene, a quintessential romantic interest whose love story with Daisy intertwines fantasy with reality. Their passion is undeniable, but it blossoms slowly, reaching a crescendo at Anabel's idyllic French countryside retreat. After a night of fervent passion, a moment of unexpected vulnerability humanizes Daisy; she farts, and Shannon's playful acceptance of it solidifies their connection in a profoundly relatable way that transcends mere physical intimacy.

The male figures in Princess Daisy present a compelling mix, not of fantasy and reality, but of appealing and repelling traits. Patrick Shannon, Daisy's destined partner, stands out with his striking looks and commanding nature, setting him up as the obvious romantic lead. Yet, his character is not without flaws. He exudes a relentless ambition, whether in taming horses or conquering hearts, and maintains a frosty professionalism in all his endeavors. Unlike Daisy, who finds solace in friendships, Shannon lacks a confidant to reveal his gentler, more joyful side. However, Krantz subtly hints at his latent warmth and loyalty, demonstrated through his dedication to spending both time and resources on orphans and fatherless boys, driven by a desire to spare them from the loneliness of his own youth.

Then there is Stash Valensky, who seemingly has all the makings of a romantic hero — good looks, charm, wealth, and an unwavering affection for Daisy's mother and Daisy herself. Yet, his character is marred by flaws that cast him as the novel's initial antagonist. Haunted by his mother's illness, Stash's obsession with perfection drives him to a drastic decision: to deceive his wife about their less-than-perfect daughter, claiming she is dead. When Francesca uncovers his deceit, she flees with her daughters to America. Even after Daisy's eventual reunion with Stash following Francesca's death, he refuses to acknowledge her sister.

Ram Valensky, Stash's son from a prior marriage, embodies a darker complexity, where the malevolent outweighs the virtuous. His looks and troubled past, coupled with Daisy's childhood affection for him, complicate his villainous portrayal, despite his cruel actions against her. His motivations are portrayed as driven by an obsessive love for Daisy, paralleling Stash's fixation with Francesca. However, a crucial distinction exists: Ram's love is possessive, frequently claiming Daisy as his property, revealing a sinister self-interest in his affections, prioritizing control over her happiness.

By weaving together characters defying the traditional molds of hero, villain, love interest, and heroine, Krantz not only infuses her protagonists with depth but also captivates readers, ensuring they remain on edge, never quite certain of the characters' next moves.