I am not sure what material this is , Seems like a stiff paper felt like material - Not cloth felt
Has 3 pin holes in it - see the last photos
Vintage wear on the edges and corners - Corners are not perfect
Has a vintage smell to it & some discolor
It does have a minor crease in the middle that is not so visible - see the last photo
Corner tip is bending upward - Pennant is not all the way flat
Marked - Charles Prod. Rockville MD, 20852
Dearborn , Michigan - Greenfield Village