You can see a good photograph of it here http://www.history.org/history/museums/clothingexhibit/museum_accessories_timeline.cfm?section=acc1600_1700#12.
By examining the structure, I was able to see that when the piece was woven at least some of the cards must have alternated S and Z threading because there are small black chevrons in the warp-faced fabric at the borders. According to Collingwood, alternated S and Z threading is common practice and is done to prevent the narrow fabric from corkscrewing. Every so often the cards at the border were turned in reverse: you can see where the direction of the black chevrons changes in the photo below. However, in the centre of the band the outline of the large red arrow in the middle remains smooth. The centre would have been turned forward and reverse much more frequently to get double-weave.
The yarn is very fine silk.
|doubleweave pattern down the centre: front and back|
have the same pattern but the colours are reversed