Hi- this is a ribbon shawl that is/was made in a small village in Colombia, though they could also be made in Spain. The fabric is rayon. I bought one there almost identical to this over 30 years ago, still have it. I believe they may still be sold there, as the women in the village made them, and were well known for them. Colombians took me on a journey to the village to buy one. Have seen them for sale in San Francisco years ago (1980's) for $250 and oddly there is currently one for sale on Etsy for exactly that today! The Etsy seller calls it a "wedding shawl" which indeed it could be used as cover-up over a wedding dress if chilly. Believe they are called papolones. I love mine!