For this figure, they got all excited about "beach towel". Apparently (if someone knows proto-fett history, please chime in), when they did the 1978 screen test with the white Fett suit, he had a star wars beach towel hanging on his belt. Hasbro is trying to pick a sg material to replicate that look.
Here is the towel people were talking about

Thanks for that pic - yeah, that's what Hasbro was talking about. The goal is to find a sg material to make a mini-towel and try to hang it on the belt to replicate that look in the second picture (which is obviously the pic they used for the cardback). They weren't sure if they could pull it off yet, but they were going to try.
And also, just to confirm what Scott said - this is NOT supposed to be McQ Fett on a vintage card, it will be a Black and White regular movie armor Fett (probably the Evolutions sculpt like Greg/Scott speculated).