Green’s Dictionary of Slang

cut n.3

(US) a leather or denim jacket worn by a bike-club member and displaying the club colours and other badges.

Urban Dict. 🌐 In biker slang, a leather or denim vest displaying the colors worn by a motorcycle club patchholder.
[US]S.M. Jones Lives Laid Away [ebook] Over his T-shirt he wore his ‘cut’—black leather vest with various patches on it.
[US]S.A. Crosby Razorblade Tears 63: They both wore denim cuts with the chapter location on the bottom.