The Performance fabric is nylon and kind of glossy, with wick-away straps.
The padding on the straps isn't as bulky as the Original.
And, FWIW, I think the Performance would suit a more petite person better than the Original.
One caveat about the Performance, though, if you're currently using the hip belt extender, you should know that the Performance is NOT compatible with it because the buckles are different.
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Liz
DD (3/2010)
"Make mistakes! Get messy!" - Miss Frizzle