Refers to a small piece of something, often fabric.
Encontré un retazo de tela que podría usar para reparar el viejo abrigo.
I found a scrap of fabric that I could use to repair the old coat.
A pesar de que el retazo de tela era pequeño, lo utilicé para un proyecto.
Despite the fact that the piece of fabric was small, I used it for a project.