Plastic golf ball yo-yo, identical in shape and size to the Festival Golf Ball from the late 1960s, early 1970s, and the Duncan Gold Ball from the 1965.
Stamped on one side with Arnold Palmer in a blue sans serif block font. Opposite side is stamped with a logo featuring the initials "AP" in red and blue with CHARGE stamped in blue directly below the logo. The logo was not an official logo of Arnold Palmer.
Who made this golf ball yo-yo and how it was sold or given away is not known. There is no UPC code anywhere on the packaging. The Japanese word printed on three sides of the box translates to "Renown". It was likely available in Japan only (where this yo-yo was purchased). Likely a promotional/private-label variant that used the same basic golf ball yo-yo body.