The construction and design of this patch does not show any signs of it being related to the 3rd Reich.
LIFE'S LOSERS NEVER LEARN FROM THE ERROR OF THEIR WAYS.
It's Gymnastics-related; apparently a sports clothing patch from some gymnastics club/association.
The central design with the four red "F"s is the so-called Turnerkreuz [Gymnasts' Cross]; the letters stand for the gymnasts' traditional motto "frisch, frei, fröhlich, fromm" [= "fresh, free, joyous, pious".] See: http://de.wikipedia.org/wiki/Turnerkreuz (German language).
The stylized "Q" around the symbol would appear to have something to do with the name and/or location of the club/association.