In 1932 the USAAC reconstituted the World War I era 35th Aero Squadron and redesignated it the 35th Pursuit Squadron, continuing today as one of the oldest active USAF fighter squadrons, the 35th Fighter Squadron, consisting of F-16 Fighting Falcons stationed at Kunsan Air Base, South Korea. Since 1932 the squadron insignia has been a leaping black panther that has earned the nickname “Bill the Cat.” The aircraft fabric insignia offered here dates to the 1930s, measures about 18 x 16 inches and is painted with the leaping “Bill the Cat.” Flying a variety of fighters such as the P-40 and P-38, the squadron saw combat in the Pacific and racked up a total of 124 aerial victories. Post-war years saw the squadron transitioning to the jet age with F-80s and F-86s and combat duty in Korea. In 1964, the 35th was one of the first USAF units to fight in Vietnam. Now stationed in Kunsan Air Base, the 35th stands combat ready to deter America's Pacific theater adversaries. Provenance: The Putnam Green/Sycamore Collection

Fine, retaining most of the paint with some crackling on the panther, which as a old protective overcoat of varnish, and pin holes along the outer edge. A great piece of aviation history from one of the USAF's oldest active fighter squadrons.