Traditional Chinese Tea cosy Basket.
This is really a lovely thing. Except that it does not fit any teapot we have. It is made for the straight sided Chinese Teapot. Maybe you bought the teapot that fits from overseas, or maybe your long used tea cosy of the same sort needs upgrading.
Hopefully it fits this.
By the way, the price reflects the new prices we see for traditional Chinese products made with skill.
It also shows how lovely old pieces of any sort that were made in China that you have, and made with style skill and art, possibly should not be used in the sense that they are rapidly being treasures of higher and higher selling prices.
Perhaps these tea cosies could be bought by museums?
Any way China need to be very careful to maintain artistry like this and actually shun rubbish like Iphones etc to maintain culture and skills.