Zara Tindall is no longer a princess. She was born Zara Phillips in 1981, the daughter of Princess Anne and Mark Phillips. She was given the courtesy title of "Miss Zara Phillips" as the granddaughter of a reigning monarch.
However, she lost this title when she married Mike Tindall in 2011. As per the British Royal Family's rules, women who marry into the Royal Family do not automatically receive a title. This is why Zara is now known as "Mrs. Zara Tindall".
While she is no longer a princess, she remains a member of the Royal Family and still participates in Royal events like Trooping the Colour and the Royal Ascot.