Beautifully embroidered pennant or small banner for the 1933 Deutsches Turnfest Stuttgart 1933. 71x11.5cm not icluding metal suspension device. Pennant is very clean and embroidery is strong throughout except for some wear to the oak leaves (see photo). Interesting to see a swaztica on something this early. I believe the handsome horse is the symbol of the city of Stuttgart which is the capital of the state of Baden-Württemberg in Southern Germany. A very attractive pennant.