Upon further inspection it is nylon. I'm a Navy vet and was stationed at an airbase out in California where the Navy does all sorts of weapons test as well as parachute testing. One of the PR's (parachute riggers) gave me an old parachute they had laying around the shop. It was destined for dermo but I got it first.
When I do get it cut up and decide to hang I'll definitely post pics.
Oh yeah to answer Miguel's question. It's OD and white.