This is a vintage Letisse handbag made of soft, genuine red leather, likely from the 1970s or 1980s. It features a gathered, ruched design with a decorative knotted or bow-like detail on the front. The bag is versatile and can be used as both a clutch purse or a shoulder bag, as it has a slim strap that can likely be tucked in or detached. The bag secures with a magnetic closure. The interior is lined, and the bag's condition is generally noted as very good for its age.