This is part of a collection of militaria brought back by James D. Duncan, who served in Company A, 102nd Anti Tank Battalion, in Europe and Northern Africa.
The lettering is in Italian, and the tricolor has faded but is still visible in the upper left corner. Aprilia seems to be a town or city that existed as one of Mussolini's factories near Rome.
Have been told by a collector of Italian militaria that this is a "gagliardetto" (pennant) for the volunteer soldiers of the city of Aprilia. Used for parades, quoted between $350-450.00. (Just in case anyone finds anything similar!)
Thanks for looking!
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