This item is a key-shaped key holder with a keyhole, but it's decorative. The bag opens by sliding the two round metal fittings inward. I received this as a gift, so I don't know the brand or material. I think it can be used for everyday use, as well as formal occasions such as weddings, entrance ceremonies, and graduation ceremonies. Please refrain from purchasing if you are concerned about its long-term storage at home. Thank you.