Coating should be silicone, like the new cooking utensils, so the heat from the iron/steam would not affect it.

If the device is left in the pants / sleeve while ironing, the edge of the loop will leave a sign on the outside of the fabric.
As you iron the pants/ as sleeve, and in order to prevent leaving signs behind on the out side of the fabric, the loop should be pulled out as the iron is moved along.

the thought of manipulating the hot metal into position sounds dangerous.perhaps it could be some kind of plastic.

Interesting, but I would have to see this in action

It appears to be a plastic loop under tension to keep pushing out against the fabric. However, taking the clips on-and-off when you don't need to use it would be a hassle, so I think one of the handle-type designs would be more practical.

How does the loop keep the fabric taut?

I like this idea, this would be small to store away also, or hang on a wall/closet so that it won't take up space (a big consideration)- I have to iron but I am not sure I would take the extra step to use this product. This one would be a niche market I think because a lot of people no longer iron. I still iron and steam but I hate having so many accessories besides the original solution.