I do believe this item is from the 40s just based on the fabric, it is strong yet soft.. Please see all the pics they are the description..  On one side there is a light colored spot see pics it is sorta brown..  It has lightly gathered lace on bottom with a bow in the center front.. The elastic still is decent and it 11 inches wide not stretched at the waist.. I am guessing on the fabric, but it is soft.