1938 Duncan Yo-Yo Winner patch made out of heavy gauge felt cloth. Used beautiful script embroidering for the words Duncan and Winner. Note also that "Yo Yo" has no hyphen.
The sewing needle holes that are visible on the back of the patch, suggest that it may have been previously mechanically sewn onto a garment such as a shirt, sweater, or jacket. The patch itself has survived remarkably well considering its age.
This Duncan Winner award patch design is uncommon.