Yes, this is the beginning of a quilted petticoat. The first out of six panels. And no, I have no idea if I will ever have the courage to go to the end of this project, but I wanted to try. There are 6 hours of work for each picture, and all this work represent a third of the finished panel !
It's made out of blue silk (second picture color is the closest to RL), and it's really incredibly pretty.