A very old piece of French or English metallic trim, very rare from the 18th century. These trims are usually made of real gold metal interlaced between the string that has gold coil around it. I never had it tested but my research shows they used real gold in the process of making it.
This piece measures about 61", so it's a nice long un-cut piece for pillows and other projects. It is a bit crumpled here and there. You see it photographed with and without flash, so as you see the color is a little faded after a few hundred years.
Please view photos for approximate measurements and details.