velvet
noun
[ ˈvɛlvɪt ]
• a closely woven fabric of silk, cotton, or nylon, that has a thick short pile on one side.
• "an armchair covered in velvet"
Origin:
Middle English: from Old French veluotte, from velu ‘velvety’, from medieval Latin villutus, from Latin villus ‘tuft, down’.
on velvet
• in an advantageous or prosperous position.