I have an original one from the Softball World Series and it is really thick. Definately not ribbon at all and the glitter does not come off. It looks like an upholstery fabric or something. It has a rough texture to it.
I have tried to find these and gave up and ordered a few off ebay. I made some with the sequins and the girls all wore them to a big tournament, got sweaty and the sequin dye colored all their hair!