Though not formally organized, these editors, authors, illustrators, art directors, publishers, etc. do tend to huddle together at industry events (making quite the splash) and are known for their wit, style, and general panache around the office...and around town. They are highly influential.
An obvious (and brilliant) mash-up of author Stephen Gaines' term "the velvet mafia" (which he used to describe the in-crowd of Studio 54's heyday) and the title of Margery Williams' classic 1922 children's book, "The Velveteen Rabbit."
The Velveteen mafia does not bat for my team, damn it!