To dream of velvet represent feelings of being extra comfortable, calm, cool, or collected. You or someone else that is laid back. Feeling comfortable with yourself that nothing matters at all.
To dream of wearing velvet represents vanity or narcissism. Noticing how wonderful it feels to be positive or beautiful. Feeling good liking yourself. It may also reflect sensuality.
Example: A woman dreamed of black velvet purse. In waking life she didn’t like feeling how easy life was financially for friends who had no children. She felt their lives were too easy and they always got to take nice vacations and go out on the weekends because they could easily afford to with no children.
Example 2: A woman dreamed of wearing a purple velvet dress. In waking life she had just recovered from surgery and wanted to project feelings to her friends and family about how smooth and easy the operation was.