This at least borders on being a museum piece and if I could otherwise pay my bills I would donate it to one. Outstanding item and outstanding condition. Possibly made for a "Potentate" but even if everyone got one there were not but so many and I have never seen another anything like it. The 40/8 or "Society of Forty Men and Eight Horses" which were what fit on a WWI rail car was inaugurated by the American Legion in 1920 so this is one of their earlier convention souvenirs and from a peak of their popularity and enrollment. Original or founding members are departed but the Society still exists as a Charitable Foundation and as an advocate for Veteran's benefits. I think it is about a size seven and embroidered with gold bullion. The color of the felt fabric as seen in the photos is pretty close, it is not as light as the light blue the Army had used up until this time. it might pass for that on a sunny day. It is just top grade all the way and has come down through the years remarkably well. Unless you luck onto a ten foot wide parade banner you won't find a better souvenir and keepsake for this historically significant veteran's fraternal group.