The old timers at one time would make use of this as it would be wedged into a hat (metal frame adjustable for hat size) so that a load of eggs could be hidden underneath giving the ability for the hat to be casually shown inside prior to the magic happening.  Other things could be hidden as well as you expect.  Due to age the material has lost its viability and would likely need to be replaced if you desired to use this.  This is one of those early items that you can show and tell at your next Magic Club Meeting.