Fringe is an ornamental hanging strip of material placed on edges and used to adorn footwear or items of clothing.
About Loafers:
Loafers or penny loafers are low, leather step-in shoes with tops that resemble moccasins, but have broad flat heels. Loafers have no shoelaces or buckles. Penny loafers are made of leather and are often worn for formal occasions.