Lovely saddlebag in the form of the Carradice Longflap.
From MTBR
Traditional transverse style bicycle saddlebag. Attaches to the loops on the rear of the touring saddle by means of two leather straps which also wrap around an interior wooden dowel, adding support and helping the bag maintain it's shape. A nylon shroud is sewn into the main body of the bag and by use of a drawstring keeps the contents secure. The top flap unfolds and provides additional attachment points, allowing for a bulkier load. The omega type metal buttons provide a convenient, quick-release for the top cover. Two side pockets add to the overall capacity and provide a place to put items which need to be readily accessible. Metal d-rings sewn into the reinforced top straps for strapping additional items...like a jacket or sweater. Two d-rings allow for use with optional shoulder strap.