The story goes that a clerk in a formal wear rental shop had a lot of ascots left over from back when and no one was renting them anymore.
So he tied an ascot into a 4-in-hand knot and called it a Ruche tie.

Ruche - defined by the Oxford Dictionary is - a strip of pleated or frilled lawn, lace, etc, used to decorate blouses, dresses, etc, or worn around the neck like a small ruff as in the 16th century