What is this leather strap on the rear wheel for?

[chief]

Hi,
I wasn't sure where best to post this question, however I was wondering if anyone knew what this leather loop was for on this old bike?

The only thing I could think of is either something to do with hanging the wheel up when off the bike or something to make alot of noise while cycling akin to those flappers you used to attach to the spokes.

Thanks.

 

[Takingabreak]

to keep the hub body clean

EDIT - maybe soak it in polish and go for a long ride

 

[novocaine]

 

[chief]

Thanks for the replies, would never have guessed that in a million years.

 

[winjohn]

Very popular back in the day!

 

[foz]

The one in the pic looks a little longer than they usually are! I need some for my Sachs new success hubs which always tarnish