I vaguely remember a "plaid fad" during the mid to late 1950's. Cowboy shirts, sleeping bags, table clothes and even an episode of "I Love Lucy" had focus on all checkered fabrics. Jock may be right that this is some rediscovered attic trunk treasure that just begged to be recycled instead of an actual relic of note.
I would be drawn to a display of this cloth draped over a manikin and possibly fall into the trap of the curator's intention to induce speculation and conversation?