That black velvet split pigskin (Tandy #9120) is great for the bellows on any of those swing-lens cameras. It is very soft and supple and has a smooth textured leather on one side (like the outer surface of the Panoram bellows) and a flat black velvet on the other side. There are occasional pinholes from the pores or hair folicles in it, but a tiny bit of black latex paint, liquid rubber, etc. on the very tip of a round toothpick or sewing needle will permanently fix those.