Black cummerbund, traditional design.  There are no labels in this garment, but it appears to be made of a smooth silk.  Adjustable to fit waist sizes 31" to 36" approx.  Depth in the centre is 4". 

Condition: Vintage cummerbund, which has clearly been used several times over the years, and no longer looks as smart as in its heyday.  Still has some life in it, but you might need to replace the elastic, as it has lost some of its stretch.