Interesting piece of ephemera. I recognize the leather as being a very popular type used from around 1900-1930.
This could have been an item that a printing and bookbinding company made on their "down" or slow time. Leather scraps are too good/expensive to just throw away, but they are not big enough to be usable for books or Bibles. Perhaps this was a "favor" item they gave to their good customers.
I 'm just speculating. I've made and sold small Bibles and Devotionals on
ebay using very nice leather that I couldn't use for anything else.