Not sure?!

[Amce54]

Month think this is that old. There is some kind of red plastic materiel that was all along the brass in the middle of the band. Has an interesting watch like end. If anyone has seen or knows of this please feel free to educate.

 

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[tennessee digger]

I'm not really sure about it's ID. It looks old but I can't explain the red "plastic" material. It really resembles a razor strop (used for sharpening razors).

 

[duggap]

My guess is that it is off a woman's handbag.