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.
A tassel is a hanging ornament consisting of a bundle of fringes (typically made of leather or synthetic material) gathered at the top by a round knob that usually hangs from a cord. Tassels are used as a decorative element on footwear and bags. In footwear, tassels are commonly placed at the top of the instep.