Seems to be a pattern for a doily-shape. Pattern shows a photo of many seamed together in a circle, around a piece of cloth, acting as an edging.

The pattern was published in 1916, and the yarns are likely discontinued. The yarn is likely a thread-weight. The rick rack braid is a zig-zag shaped edging, of which a picture is included in the pattern photos. Some project pages may have info on making your own rick rack