This is the spacesuit that will be used by astronauts flying aboard the Dragon spacecraft. If things go as planned, Dragon could make its first manned flight in 2018. The flight suit is white and Musk explains they put a lot of effort in making it look good. Do keep in mind that this suit is not intended for heavy-duty work like spacewalks, they're only designed for the flight from Earth to space and back again.
Elon Musk promises more details will follow in a couple of days.
For comparison, here's a look at the Boeing spacesuit that was revealed earlier this year. Boeing is in competition with SpaceX to get the US back into manned spaceflight. At the moment, NASA has to rely on Russia to get astronauts to the ISS. It's not clear which of the two companies is ahead in commercial crew program, the first manned flight of either companies isn't expected until mid-2018 at the earliest.