>>2087453The one color version doesn't look too bad, because it's surrounded by a similar style.
With one color it just becomes a 'flower shaped hair accessory,' but loses the idea of it being ribbon-like.
I don't think the two color version looks worse on its if it is done in a way that matches the source image. With it like this you retain the idea of it being kind of like a looped ribbon: The original shape of the middle dipping down and reconnecting is lost, but it still looks alright.
However, it suddenly stands out a lot compared to the rest of the image, which may cause it to look more unnatural. Remember that the 3D effect of layers is being removed on every other part of the image. If you start adding more shades it will become increasinly jaring in comparison to its one tone background.
I think that you basically just have to make a choice on what style you like more, but trying to make it more detailed is going to make the image as a whole look worse. Personally after looking at it for a while I like the one color version.
On an unrelated note; You should probably be drawing shapes in a top-down (above-below) order. Drawing the hair should come after all the hair accessories, because it is underneath them. It's much easier to be able to draw in order of how things are layered, because nothing you are drawing will be covered up by something you already drew.