There are a lot of YouTube videos that demonstrate machine quilting. Watching a few of those should help you narrow down what kind of technique you want to use.
Does anyone quilt on a featherweight? There is very little room under the arm.
Also, if you do quilt using the featherweight, I recommend spray basting instead of pinning. (Actually, I recommend spray basting over pinning anyway!) I would be afraid the pins would scratch the finish on my featherweight. I also highly recommend heavily starching the backing fabric before layering to help reduce the chance of puckers on the back.
What I would recommend is making up a few practice sandwiches to work on your quilting before tackling the actual quilt. Ideally, you want to outline your major shapes first, then fill in the background.
You don't have to make a yo-yo, but I would sew some of the rick-rack to an 18" square before sandwiching to see if you can outline quilt around the rick-rack, yo-yos and leaves. Basically you want to outline around each flower first. Because of the tight curves, you will have to sew slowly and lift the presser foot to adjust the fabric frequently. Try this with both a walking foot and regular foot. Especially if you have starched heavily first, the regular foot might be easier to use for this. Be sure to check underneath to make sure you aren't getting puckers!
To fill in the large spaces, I recommend using a walking foot and doing large wavy lines, starting at an edge. When you get to a flower outline, lift the presser foot frequently and sew gradually as you turn the quilt around, then quilt large wavy lines back to the edge.
The quilt in the picture was quilted with free-motion quilting, which can take awhile to master. You won't get exactly the same kind of quilting with a walking foot the way I described, but it will have a similar feel. Quilting wavy lines with a walking foot is *much* easier for most beginners than free-motion quilting.
Edit: Just wanted to add that quilting from an edge, turning around at a flower outline, and quilting back to the edge ensures that you won't end up with a lot of thread ends to bury. All of the thread ends will be locked inside the binding. And, at the top of the quilt where you won't have a flower outline stopping you, you can just quilt from one edge to the other.
Good luck!