Why do they call it oil cloth? What is currently being sold in stores as oilcloth is actually made from cotton fabric covered with a petroleum-based coating. However, genuine oilcloth (the real thing grandma had on her kitchen table) is made from cotton, canvas, or linen fabric coated in linseed oil. The fabric can be dyed or printed before the linseed treatment, and the oil gives it a water-resistant surface. Genuine oilcloth (also known as oilskin) is biodegradable in a landfill. The "real" oilcloth sold in stores today is made from PVC or polyvinyl chloride, and as such does not break down in a landfill.
If you'd like to give the real thing a try, here's how to do it: