Yep, rayon is a type of fabric. If you're intending to use it for hang tags, that will be easy. Seam binding is cut on the bias. When I've made some, I used cotton, cut it on the bias, and there's a little metal tool that you feed the material through a little at a time and iron it as it comes out-it folds the edges over perfectly. Not sure how that would work for rayon. Maybe create your binding and then mist the material with a water bottle, crinkle it up, then allow it to dry? That's what I would do.
The listing says it's rayon ribbon, so you might want to do some research to see what technique you should be using. The regular technique for creating seam binding might not be what you want.
