I like it. When I see it I think, "Falling."
If I can give a bit of input -- I think the way you have Wonderland is a bit confusing as is. I wonder if it would be better all together at the bottom, as you have it in one of the thumbnails.
Overall the image definitely captures the spirit of the book, and I love how the rabbit is sitting there holding a glass (or a rose? or his watch?) out to Alice as she goes past.
I look forward to seeing where you take it from here!