Unknown Sleeve Shield

[alfonso]

Hello Gentlemens!
Please for Help:

Today, I bought this old sleeve shield in the flea market.
Does anyone know what this is about??? Pre or post-war? German, Austrian, US......?
There are gothic G, I think. And a golden Lion.
I think that this insignia is at connection in WWII.... But, I don't know...
It is of high quality insignia and the size is 7 x 9.5 cm.
Thanks in advance
Regards, Alexander

[HPL2008]

I can't ID it offhand, but it's definitely not Third Reich-related.

[Kohima]

It could be a school blazer badge, a rowing club or sports team... almost anything, in fact.
Nothing springs to mind, but I shall keep it there (in mind, that is).

Lovely quality.
Hope it turns out to be something exciting!

All the best,
Bob

[Narcis]

Could be Macedonian (colours and lion).

[alfonso]

...