Spectra

The Shimmeron Collection was produced by Mattel in 1986  Spectra was the leader of the group who came from another planet.  The others in this series were Astrogold, StylaBlue, Tom Comet and Ultra Violet.  There was also a dog named Spark.  Spectra was 11 1/2 inches tall. She had a metallic pink poseable body. A normal type head with a painted face.  Her hair was pink and had clear tinsel like strands through it. Her original outfit was a white lacey dress. 
UPDATE: Dress she is wearing is from a Barbie called "Birthday Party".  The doll was found in grocery stores in 1998.