Vintage Pale Blue Flapper Lingerie Teddy with Lace & Pink Silk Ribbon, 1920s Boudoir

ERA: True vintage item from the 1920s
MEASUREMENTS: the item is 33 inches long, it will fit a 40 inch bust with room, free waist, 48 inches around hips.
MATERIAL: ? Silk or cotton
LABEL: none
CLEANING: hand washed
Very pale blue teddy made of a sheer woven fabric with horizontal grain. Wide white lace with pointed bottom edge. Pink/peach silk ribbon runs through the lace and has a bow at the front. The ribbon does not adjust. Strip of fabric with button holes at the crotch.

CONDITION: The teddy is in good condition with some issues. The silk ribbon bow on the front of the garment is shredded.
There is a 1/4 inch wear hole on the front and another on the behind - those holes are slightly frayed.
The section with buttons is missing from the crotch. So there are button holes, but no buttons.