Marvel Cover Patch featuring The Incredible Hulk, by artist Jim Steranko. It reproduces the cover of The Mighty World of Marvel (UK) #129 from 1975, which in turn reproduces the cover artwork of Hulk King Size Special (USA) #1 from 1968.
The giant fabric patch, intended to be sewn onto the back of a jacket (or tee-shirt, according to the marketing), was a promotional item sold by Marvel UK in 1975.
The original promotion, limited to 1,000 units, numbered the items in the 'Limited Edition' speech bubble. This rare 'variant' oddity, potentially replacement stock or a factory sample, is left unnumbered.