Concept:
Tārā is one of the most important female deities in Mahayana and Vajrayana Buddhism. She is regarded as the feminine counterpart of the Bodhisattva Avalokitesvara and symbolizes compassion, divine grace, protection, and wisdom.
Numerous bronze sculptures of Tārā have been discovered at Kurkihar (Bihar), an important centre of Pala-period Buddhist art. These sculptures are renowned for their graceful modelling, refined ornamentation, and exquisite bronze casting techniques.
Step 1: Identify the deity described in the question.
The deity described as the feminine counterpart of Avalokitesvara and embodiment of divine grace is
\[
\boxed{\text{Tārā}}
\]
Step 2: Examine the given options.
• Crowned Buddha -- Represents the Buddha in royal attire, not a feminine Bodhisattva.
• Avalokitesvara -- Male Bodhisattva of Compassion.
• Tārā -- Correct; female Bodhisattva associated with compassion and divine grace.
• Mother-Goddess Mahéśvari -- A Hindu goddess belonging to the Sapta Matrikas.
Hence,
\[
\boxed{\text{(C) Tārā}}
\]