Spain, Fascist State. A Blue Squadron Unit Pennant, C.1936 United Republic of marked with a Reichszeugmeisterei (RZM)

marked with a Reichszeugmeisterei (RZM) logo and code “4/79” for maker Hillenbrand & Bröer

side panel on the base coming away along the top edge

maker marked with the Fox "F" within an oval and surmounting an "X" insignia on the reverse

by adding on reverse belt clasp)

while the right side has a central interlocking tab illustrating a lion standing upon the Victorian crown

Spain, Fascist State. A Blue Squadron Unit Pennant, C.1936 United Republic of marked with a Reichszeugmeisterei (RZM)An extremely well preserved Blue Squadron (Patrulla Azul) unit pennant, constructed of a white wool base, the obverse bearing an elaborated multi piece insignia consisting of a central white wool disc, overlaid by a Blue Squadron insignia in the form of three diving eagles above an inscription of VISTA, SUERTE Y AL TORO (colloquially translating to WATCH OUT, HAVE LUCK, AND GO FOR THE BULL), on top of double overlaid crosses, and within a green laurel