What you have there is a beautifully carved stitched and lined Mexican Loop holster. It looks like top of the line work too and with a very nice grade of leather.
By the looks of the leather it doesn't appear to be new, but barely used and very well looked after.
Maybe Wyatt will jump on in here as he knows his holsters quite well. Wyatt, please correct me if I'm wrong here would you?
Here's one of my line. A Texas Jockstrap, unfinished and finished.