Small textile rug saddle blanket with red design

I wondered if anyone could help me identify this item. It measures appx. 23 inches by 23 inches. Maybe it is a saddle blanket ? perhaps from the American SW Native American. I really can't figure it out. The material is I think wool but it at first strikes me as like burlap. The design is very simple and I just think it may be from the American SW but can't figure it out. I would love to get more information about first what it's use was, perhaps a saddle blanket, when it may have been made and by who and if it has any value. Any information would be very much appreciated. Thanks...