A very nice new old stock parasol produced in Japan during the late 1950s into the 1960s.  The paper is very thin covering the open framework so I suspect it could be rice paper. Pictures also reveal the mechanical latch allowing the parasol to stay open when unfolded.  Fully open the top measures 17” diameter. When closed the item measures 16” long. Vintage unused condition. I do not believe this item was ever given as a prize at a county fair or carnival as it still has the original country of origin band holding it closed. I will mention for accuracy access glue at the top of the red handle where attached to the wooden rod supporting the framework and top, a couple of pin head size holes in the paper covering the framework, visible when open.  I also noticed at a couple spots on the edge where the thin paper has wrinkled. The framework is intact and the mechanical latch works when unfolded. Due to the parasol size, the packing materials for safe delivery will need to be oversized, hence the postage might seem a little higher than normal for this item. A very collectible item. Please view all pictures as they are considered part of the description.