The rectangular cloth has a triangle end to which a ribbon is attached.
A dedication is inscribed in Judeo Spanish (Ladino) in square Hebrew characters, which reads:
"נראמואדי יעקב/ שבתי"
“? By Jacob Shabbetai"
Online collection of the ritual objects from the E. Ringelblum Jewish Historical Institute is available here: http://cbj.jhi.pl/collections/964689