Some people call this “cut velvet“; it’s also called “burn-out,” “voided,”or “devoure” (with an accent aigue on the final e: dev’-00r-ay.) The places where there is no velvet pile can be sheer, like chiffon; or satin-y, as in this bustle-era cape or mantle (the leaves are plush velvet, and the spaces between feel like heavy satin:)
I don’t have a really good photo of this twenties’ fabric, but, if I were trying to reproduce this dress, I would visit Thai Silks. Currently, you can find convincing period fabrics like this one for $25 to $28 per yard. Multi-colored, printed burn-out velvets will make a glamorous Twenties’ dress, and work best with a very simple dress pattern: easy elegance. Thai Silk is also a good source for silk charmeuse, silk satin, crepe de chine, etc.
I don’t usually recommend businesses on this blog, but as a theatrical costumer — twenty years ago — I used to love the company called Thai Silks. I was close enough to shop there in person, but you can order (one yard minimum!) online. The online catalog is downloadable, and they will mail you a swatch or two before you commit to a purchase. Burn-out velvet (very 1920’s) is currently about $25 per yard. If you like Britex, you might love Thai Silks.
Note: the “hand” of real silk or rayon/silk velvet is nothing like the stiff “decorator” velvet sold in many fabric chain stores. Thai Silks sells many rayon/silk blends, so asking for a swatch allows you to “feel” if it will behave properly for your pattern. Rayon and silk are both authentic 1920’s fabrics.
About rayon/silk velvet: one of the first synthetic fabrics, rayon is cellulose based, like cotton and linen. Silk, like wool, is protein based. Chemicals that make it possible to dissolve the protein (silk) and leave the cellulose (rayon) intact make it possible to create burn-out effects. (I’m working from memory here, so if you need more information, please look for a more knowledgeable source on devoure silk!)
Printed silks in patterns suitable for the 1920’s (including “necktie silk”) are still being made, if you shop carefully.
It’s important to remember that the labor (or time) spent making a dress is almost always more “expensive” than the fabric. Three or four yards of quality silk or silk velvet fabric (under $100 total) will result in a dress worth hundreds of dollars, and putting all that work into a polyester dress will never give the same result. Luckily, the more interesting your fabric, the less complex your dress style should be, so that the fabric, not the trim, is the real star. [Be aware that stitching velvet requires careful pinning and basting, and practice.]
The Exotic Silks company offers basically the same products as Thai Silks, and offers a large sample set of velvet swatches for $12 (2017 price.) However, Exotic Silks is a wholesaler; (minimum order for silk is 15 yards and for velvet is 28 yards.) Thai Silks has a one yard minimum and will send you swatches of the fabrics you really are interested in; you can phone them. Thai Silks also offers several sets of swatches, $12 and up. (I believe Exotic Silks and Thai Silks are two branches of the same store, wholesale and retail.)
P.S. Here is the store label from this 1880’s cape; today, fabric similar to this is often sold as upholstery velvet:
Click here for a Pinterest page full of late Victorian mantles like this.