Vintage Rare #7 Racing Car Clutch (#5)

I first thought that this gently used Vintage Rare #7 Racing Car Clutch was a maybe a pencil holder but after some research I was totally surprised! All its hardware is silver tone w/a 2-way nylon zipper closure. Inside is a 4”H open mesh pocket and five elastic slots. It’s really cute and in great condition! Have fun w/it!