Federal Bag, circa 1972-1974
This smaller format of the Federal Bag is essentially a Mini Pouch that has been embossed. Based on the NYC stamp, this was likely produced on the 1974 end of the timeline.
Photos by @20thcenturycoach
Bonnie Cashin for Sills model wearing the larger sized Federal Bag, courtesy of the UCLA Library
Ad from 1972, showing the larger size