Yes, it is cork bonded to a light woven backing (I assume). It’s called cork fabric, cork leather or vegan leather as far as I can see. It’s very flexible and feels like a light to medium weight fabric. People make wallets and bags out of it - you can machine or hand stitch it but I don’t think it’s washable - wipe clean only.
I haven't used the cork fabric but I sell bags in the store made from it. It is durable and lightweight so should be fairly easy to work with. I look forward to hearing how it went and seeing the final piece.