It is called the 'fan of a thousand faces', made in Canton for export. On most of these the faces are ivory and the clothing is silk, but I can't see if it is the same on this one. I have a 'fan of a thousand faces' as well, but the frame on mine is not as grand. Mine does have the face and clothing appliqués.
That was a pile of work to make. It probably sold for relative peanuts originally, Chinese labor wages being what they always have been.