Seen anything like this before?

[John Brandon]

A strange one for sure. the size of a corner patch for a flag, but double sided, Exquisite workmanship - heavy chain stitching to the lettering, and a bullion border - but what's it for? I'm thinking part of a Schellenbaum measures about 12" x 10"

Excuse the photos - taken with a phone

[Erich]

Interesting piece. IMO it's not set up as a Schellenbaum flag--those would have metallic fringe around all sides, and usually metallic Tresse or cording for attachment to a cross bar. The bar would have cording that would serve to attach the flag to the Schellenbaum finial eagle's beak. That said, being 2 sided, it's not clear for what this piece would have been intended. If it was a 'Stammtisch' banner, it would still need a cord or something to attach it to a stand.
Erich