This extremely well made flag measures about 9x9 inches, and is constructed of fine grade felt.  Fringe is exactly what period fringe looks like, and the eagle is expertly embroidered.  Reverse is chain-stitched with the Luftwaffe unit number.  This was purchased AS ORIGINAL by a top-tier dealer, and I purchased it for the excellent craftsmanship it represents.  This was probably made in the 1970s.