doughboy,

pennants like this were used for standing on tables in guestrooms by veterans associations during there meetings.

I presume, after WW1 the veterans association of the imperial 161. Infantry-Rgt had a kind of tradition-line to the Reiter-regiment 17 in Braunschweig and the Infantry-regiment 57 in Siegen or another kind of friendship to these units. So, the 3. Btl. in the Infantry-Rgt 57 gave this pennant together with some guys of the Reiter-Rgt. 17 in Braunschweig to the veterans of the 161, wich used it during there meetings.

Kolibri