The only possible cut would be to cut the flowers out on point. Not sure how to deal with all that bias unless you drew the cutting lines and then stitched 1/8 of an inch inside the cut line. Very pretty print.

I would leave it whole and us it for a backing probably add some border strips cut length wise grain of fabric to make a full or queen size quilt that way it would be a two-fer. (reversible quilt)

I do a lot of panel work for clients and I definetly would leave it whole. The background is a light color and takes up a lot of space on the panel. So If it was mine I would start with a deeper tone from the panel and make 4 inch (or the closest size to go around the panel in equal blocks). I would make them simple blocks, pinwheels, or a diamond in the block. Then a plain substantial border maybe 3 to 4 inches. In a color that compliments another flower in the panel.
If you could find a piece of fabric with a flower or Pattern that compliments the panel use them for at the four corners.
That's my take. It would be a great looking quilt and wouldn't take a large amount of time.
All the best
It is a beautiful panel.
R

Thank you all for your remarks and advice. Yes it is a beautiful panel and the more I look at it the more I love it. I have the exact green with a tiny gold tick in it for one of the borders and I like the idea of not cutting it and maybe doing little pinwheels around it in some of the other colours. I have been looking for a good deep rose red to match the flowers but haven't found it yet. I am going to try and match as many of the colours as possible and decide what looks best. Please keep your ideas coming. Thanks again.

Definitely a whole cloth quilt, with the second fabric as the backing. It's way too pretty to cut up. It's already a great size for a snuggle quilt. Lucky you!

I am with those who think you should not cut it but put borders around it. Both are so beautiful.

I would probably leave it whole and add a couple of borders and make it into a quilt. It is such pretty fabric it could easily stand alone.

Does it say anything in the borders? I would love to have that fabric. Please PM me if it does.

Angelia beat me to the punch. I agree with her.

Here is an easy attic window pattern that will give the same look without mitered corners. You can just elongate it to make rectangles instead of squares if that suits you better.
http://www.quiltaholics.com/bom/attwin.htm