A “fun” stored-away-like-new condition, dating from the teen years to 1920’s, whimsy or ditty bag. It is a home sewn bag in a pretty flora print cotton trimmed in pink bias tape.
A bone ring is attached to the opening so when the bag is opened it can be hung by the ring. Probably suggesting the intended purpose of the bag was to hold sewing or perhaps hosiery. However, it is just a guess as there were many purposes for these creative bags.