The exterior is calf hair (often commercially called "pony hair").
The turnlock clasp is a distinctive "D-ring" or "trapezoidal" style common in Italian and high-end of that period.
The thin, double-tubular leather straps and the accordion-style multi-gusset interior are hallmarks of a "Kelly style" or "box bag" from the 1960s.
The "balding" or rubbing on the calf hair (the lighter brown/tan patches) is common for antique fur bags. It typically occurs where the bag rubs against the body or where hands frequently touch the flap.. This makes it a standard "day bag" or "handheld" size for the era.
The interior appears to be lined in a smooth, dark leather or vinyl with multiple compartments

While the piece exhibits natural thinning of the hair at friction points consistent with its antique age, it remains a sturdy, high-end accessory perfect for fall and winter styling.