I hear also that Britney's "emancipation" from under the conservatorship of her father is coming up. Perhaps the butterfly thing is supposed to symbolize that? She's got this thing about butterflies. For one, here's an image that's part of the "Britney Jean Spears Dingbats " font that I think is the letter N, and I think this is a tattoo she already has:
I find this interesting. They haven't posted a picture of her new tattoo yet.