I think it is a very cute bag. However, I haven't had any experience with Moschino bags, so I can't tell you about the quality. I think that if the price is reasonable, you should get it.
I love it! It depends on the price though...I can see myself getting tired of the ribbon after a while and being tempted to chop it off- which i would not want to do to a very expensive bag!
I like it all, even the scarf. I don't think it's supposed to be a classic bag, just more of a fun, original bag so if that's what you're looking for then go for it!
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"In matters of grave importance, style, not sincerity, is the vital thing"
I think it's really adorable, scarf and all...my guess is that the scarf could be tucked in if you didn't want it as part of an outfit but I wouldn't be able to tell unless I saw it IRL.
I do own a Moschino bag (mine is from Moschino Jeans) and I find that the qaulity of all Moschino items varies depending on what line made it (i.e. Moschino Jeans, Moschino Cheap and Chic, Moschino proper). I paid $230 for my Moschino bag and IMO it's worth $230 because it's a bit esoteric and different from what most people are carrying.