Save My Place

I'm not exactly sure what this is - it appears to be crocheted, and it's quite long, over two feet. I suppose it could be a bookmark, but it seems a bit too fancy for such a humble task. Any guesses?

Found in (well, around actually, as pictured in the photo) "Of Human Bondage" by W. Somerset Maugham. Published by Garden City Publishing Co., 1939.

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