Real leather. Perfect size and shape. High quality materials. The only change I would make is adding a pair of high quality belt hooks vs. leather loops so I don’t have to unbuckle and un-loop my belt every time I wear it. Otherwise, I’m very happy with my purchase. It wasn’t easy to find a nice, genuine leather treat pouch. They’re all made of strange materials like canvas, etc. I especially like the liner and the way the whole pouch holds its cylindrical shape and has a nice wide opening for my larger hand.