Sue found this piece in a drawer in her house. She has a house that she describes is like Christmas morning: she never knows what she is going to find in a drawer when she opens it. That sounds pretty magical to me!
So this piece Sue thinks was probably made as a dresser cover for a nursery. Sue, do you think it could be a layover pillow sham? Not sure of the size but I've seen these kinds of shams for cribs before: