Lantern Shaped Pomander

This object could be an aromatic pouch but since its neck opening is very small and has minimal wear it could also be a purely ornamental object to be worn during lantern festival.What is less mysterious is its Chinese origin and its age which is third quarter of the 20th century. The Chinese characters extol Mao and China.Also evident is the amount of work that was invested in its creation. Weft faced , warp wrapped three color cotton with no supportive foundation of any other material.