Please scroll down to see all the images. This is a German belt that is made of pressed paper.  They were experimenting with alternate materials and this is one of them.  The tongue of the belt appears to be made of pebble grained leather.  Notice that they even embossed a grain into the surface of the paper. This example, the K98k frog and the holster are scarce examples of this attempt to cut down on the use of leather.  The layering of the paper is much better on this example than the holster but the holster required more curves in the manufacturing process.