Extended Christmases among the "cheap" families...

Got a present yesterday with some nice wrapping including about 2' of 3/4" red grosgrain ribbon. Naturally, being the cheap skate I am, I saved it.

Is there any real difference between "indoor" and "outdoor" grosgrain?

Will this stuff hold up, or will I regret using it one day?

If there is a difference, where do you buy "outdoor" grosgrain, and what do you ask for/look for?