The most common and most likely answer to this crossword clue is the 7 letter word EYELETS
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Buddy explains!
The straight part
We know that "material can contain such holes" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case material can contain such holes = eyelets.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does EYELETS mean?
EYELETS noun- An object that consists of a rim and small hole or perforation to receive a cord or fastener, as in garments, sails, etc. An eyelet may reinforce a hole.
- A shaped metal embellishment containing a hole, used in scrapbook. Eyelets are typically set by punching a hole in the page, placing the smooth side of the eyelet on a table, positioning the paper over protruding edge and curling the edge down using a hammer and eyelet setter.
- Cotton fabric with small holes.
- The contact tip of the base of a light bulb.
- A peephole.
- A little eye.