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I recently received a collection of vintage slips, dresses and bonnets from my mother-in-law who has been collecting them for many many years. This bonnet is made from white fabric (feels like a cotton) and is very sheer, and has 2 layers on "ruffle" around the front. There is white, yellow, and light blue embroidery stitching (I'm sure done by hand) There is tiny rows of pleats as shown in the 2nd photo. There are no ties, and I don't think there ever was. My guess because of the lace is that this bonnet is from around the 1940's- or maybe even earlier.