One of many municipal peacekeeping leagues which served to police medieval Spain, ultimately united into one organisation by the Catholic Monarchs. The Toledo branch operated out of the Posada de la Santa Hermandad, which today serves as a combined inn and museum.
What might seem a bizarre assault out of context was an established practice at the time, repeatedly referenced in medieval and renaissance literature - 'canvassing' or 'blanketing' victims high up into the air, either as entertainment at festivals or, as here, a light-hearted but humiliating form of punishment. The custom is still practised by descendants of Inuit tribes as a traditional sport, and by excitable teenagers as a cheap means of entertainment.
Online copy of Medieval mystery 'The Second Shepherd's Play', featuring punishment by canvas-tossing (page 69).
Online copy of William Shakespeare's Henry IV, Part II (circa 1599) featuring threat of same (page 303)