World War II 5th Air Force patch, looks to possibly be a made in-theater in Australia for airmen serving in the Southwest Pacific.
These Australian-made versions are highly desirable due to their distinctive construction and use of khaki backing cloth, thicker matte thread, and hand-guided machine embroidery.
See pictures for description does show signs of wear
The 5th Air Force served under General George Kenney in the Southwest Pacific Theater and played a major role in the New Guinea, Philippines, and Pacific island campaigns. Australian-made patches were commonly purchased locally by airmen and are prized by collectors today