You are purchasing the exact school as shown-may vary slightly as I have a small stack of these-size is small-mini pennant-measures approx 10 inches length-view photos with ruler shown.

Made of a felt material-vintage-likely 1950s-1970s era. 

Overall condition is good. May show some wear and markings consistent with age and display-light frays, small tears, pin holes, creases, small snags, etc. View photos closely they are the most accurate description of the item. 

Have many more listed-please ask questions prior to purchase-thank you and enjoy!