It looks original. I think these small pennants were attached to bicycles and automobiles.
Sir Payne is correct
"In all my years as a soldier, I have never seen men fight so hard." - SS Obergruppenfuhrer Wilhelm Bittrich - Arnhem
Thanks for the imput guys, im very happy it is real, i was a bit worried about it as it is quite small, it looks tiny compared to my Luftwaffe Pennant, but saying that i like it a lot.