I think it works for her. Then again, I'm partial to the brunettes, so I'm biased. The various wigs Candice Swanepoel is wearing for this rather bizarre photoshoot are much closer to her original hair color, which she wore quite freely back when she was much younger and a little more baby-faced.
I'd be pretty cool with it if she went back there, but it seems like once the model types get themselves a look, they can never diverge too much. That means never gaining or loosing to much weight, never taking off a mole once it's become iconic, and never, ever changing their hair color. That's too bad, because she could stand to put on a few pounds and let that brunette hair come back. Sometimes Candice is far too deep into that model look, to the point where she starts to look like a living mannequin. She was much more human back in the day. She's not so far away from those days that she can't recreate them. She's got her bazillions of dollars now. She can start to dictate her own look. Go back to your roots, Candice. Literally.
Click on each photo to enlarge!