I would say what you have is the remains of a false waistcoat/vest. These used to be very common for white tie waistcoats.
I gather that, as you said, you have the entire front of the waistcoat including lapels. They would have been previously joined with tape at the collar area and around the kidney area (where most waistcoats have a strap and buckle these days)
These days you could use wide elastic to the same effect. It kind of assures that you remain correctly attired at a true black tie event, where gentlemen do not remove their jackets.
Shoot straight you bastards. Don't make a mess of it. Harry (Breaker) Harbord Morant - Bushveldt Carbineers
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