My absolute favorite version so far is the one illustrated by Janet and Anne Grahame Johnstone, but I'd be curious to hear other recommendations. I think fairy tale books are such a great way for illustrators to strut their stuff.
Along with the Grahame Johnstone sisters, my current favorite illustrators are Kay Nielson, Julia Sarda, Arthur Rackham, and Barbara Canepa. I love art that's more focused on the line work (as opposed to art that's very 3D and realistic looking).
If you have a picture book that's not necessarily a fairy tale book but is still beautiful, feel free to recommend it.
by Lakes_Lakes