Updated: Jan 10, 2021
The ruched fabric rosette is known as a yo-yo in North America and a Suffolk Puff in the British Isles. Here is a link to the story of fabric yoyos.
On yoyos and frugality
"Even little scraps of cloth were saved. And if an old curtain, apron, or other piece of clothing was too worn or stained for use, a small corner of it, an unworn or unstained piece of it, might be salvaged. The scrapes could be turned into yo-yos. "
Yoyos look something like round gathered flowers. They can be whimsical, fun, elegant and artistic.
A perfect way to use fabric scraps.
They can be used to make toys
To adorn fashion accessories
For Home Decor
The Art Yoyo
And of course a great and simple tutorial that I found on the web