Antique Strop

Recently I picked up an identical strop to the one picture here. I figured for $2.00 I could hang it as decoration and still not really lose. But my question is does anyone know what kind of leather is used on this? Would this have been used with pastes?

It appears that the two opposing cushioned sides are suede, although that could be from wear. Anyone know what the cushioning material behind the leather is?
On the other two sides it appears one of them is a thin vege tanned leather with the smooth side out while the other is plain wood with some old brown paint on it.

the total size is about 1.25 in(maybe 1.5in) X 14 in

I'll try to post some pics tonight when I get home

Thanks
Bob