This is a lovely, quintessential example of Penobscot basketry, featuring a wonderful interplay of patterns and textures. The lid is woven primarily with tight sweetgrass braids, punctuated with two bands of woven ash splint nearer to the center framing one band of unbraided grass, then a nice fat braid across the top for a handle. With lid removed, the bottom half reveals a rim of blue-green naturally dyed ash splint, also visible at the center of the underside of the lid and on the bottom of the basket.
I'd guess this basket dates to the first half of the 20th century, and remains in excellent condition, with just some fading to the color on the underside of the bottom. 5 1/2" in diameter and 2 7/8" tall.