This could be hand washed gently - maybe once. Others have mentioned that silk is fragile - it is also very very light sensitive. The sun exposure from a sunny window for a few months could ruin it, even if the child were never allowed to touch it.
I have had amazing results with ink jet printer on fabric. You could get modern silk in that red color, and print copies of the best embroidery motifs onto cotton ink jet fabric. This would make a replica quilt which would be stunning AND much more sturdy. (caution: new silk + ink jet printing will be costly!)
Anyway, a 4 year old might prefer train or bulldozers or animals on a cotton quilt.
The small purple bits would be perfect for wedding ring pillows or a tiny Mandarin-style baby jacket.
http://www.goodorient.com/images/T/GEF1033_100.jpg