Not really wood. We were very tempted to say one of our apprentices spent a week carving this binder from a solid block of wood.
The truth is the folder is covered with paper and the print is almost indistinguishable from real wood (see close up below). By clever varnishing it also has the sheen and feel of wood too. If that were not enough we can also add the scent of pine.
So if it looks like wood, feels like wood and smells like wood, it is paper and much more economical than wood.