My guess would be a young Pawnee Bill and his wife May Lillie, but as usual I'm not sure. These are photos of May Lillie wearing what could be schuetzen medals;

I have seen this couple before, likely somewhat later in their careers and then a family, since a girl of about 4 was in the second photo, wearing her own outfit and holding a Stevens medium-frame pocket rifle.  By then the husband's togs were more elaborate, as I remember, while the wife's "Indian Princess" get-up may have been the same.  They were identified, but I made no note of it, or of the photo's caption, except that they were then working theaters rather than wild west shows.  In any case, they are NOT Bill and May, neither of whom were likely ever that slim, let alone that pretty.

Bill Lawrence