Old Family Christmas decoration - any clues?

Can anyone tell me anything about this old christmas bell decoration?

I think it belonged to my gran. I remember it coming out faithfully every xmas for a long long time. I'm 47, and my gran was an old lady when I was born, she was born in the late 18oo's.

I put up my decorations today and finally decided to have a look on the internet to see if I could get any history of its background. Something I've been meaning to do for some years now and never got round to it.

It just makes me smile every year when it comes out the box of decorations and I now hang it on my own xmas tree.

Its a velvety brushed fabric and plays 'oh christmas tree, oh christmas tree' music.

If anyone could give me any background to this it'd be appreciated.
Many thanks