Is it plastic? Is it maybe intended for an outdoor space?

I tapped on it and it's some kind of plastic. It would have been bought new in the mid-70s.

Well I've seen many swags from that era, one I remember very well, but have never seen one with a glob quite like that one. The globes were always glass.

Here is a link that might be useful:

I'm guessing that thing on the bottom is a vent to help prevent melting of the plastic globe. Or, you could turn it over and stick flowers in the holes.

Just to clarify, only the globe part is plastic, but not the woven cover. It's whatever the stringy stuff they are typically constructed of (twine, fiberglass??).

I'll have to remember the flower-holder tip this spring. :)