Is it a blanket or a rug? Yes. It's a frazada. This frazada is an antique wool textile that makes a durable floor covering, a *super* warm blanket, a rugged ground cloth, or just about anything else you can think to use it for. I keep one in my car for just such creative applications.
Please note that these textiles are antiques and made of natural materials. They're super durable, but they also show signs of the previous lives they've lived before they found you.
Care instructions: We take them to the laundromat and wash them in an industrial machine and let them air dry.