Sakuramochi is a seasonal wagashi which consists of pink mochi (rice cake) and red bean paste, covered with a sakura (cherry) leaf. It is a popular confection that you can see only in the spring season.
The style of sakuramochi differs depending on the region in Japan. Basically, Kanto (eastern) style such as Tokyo is made from rice flour and Kansai (western) style such as Osaka is made from glutinous rice flour for batter.
The one in the photo represents the Kanto (eastern) style. The red bean paste is covered with a flat, crepe-like mochi.