My wife uncovered this and asked me what I thought this item could be. It is made from cloth, each end has a pocket and is 13" x 3 3/4."
You drape it over the arm of an easy chair and put your glasses, remote, whatever in the pockets. Armchair caddy.
Nice needle work. The shape reminds me of sand filled pieces to lay over your book to hold it open. Could this one have had weights which could be inserted.