A two-color Cheerio Yo-Yo bronze or third place award patch.
Gold embroidery on heavy black felt. It's fairly uncommon to find Cheerio felt patches that have been cleaned or washed, especially if they were sewn onto a shirt or jacket. The main reason was because the felt portion was not colorfast. Note also that Cheerio did not use a mesh backing cloth to add structure and resiliency to this patch. This patch could be from Canada or the U.S. If it is from the U.S. it is pre-1954.
In 1954, Duncan bought out the Cheerio brand in the U.S. but did not promote the Cheerio product line. As such, by the early to mid 1960s, the Cheerio Yo-Yo brand disappeared from the United States.
