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I dont think its what you think it is, nor is it that old.
The clown is, of course Emmitt Kelly, the famous clown who was sometimes used as a mascot for "dem bums".
The DODGERS on the pennant is a newer version and the Brooklyn font is all wrong. I've never seen a vintage pennant with a font like that. Also, look at the way that the left side is made. Its made the same way as the 77 Yankees one shown above it. The Kelly pennant should be early 50's but pennants in the 50's were not made like that. I think that its either a home made version from the 70's or a knock off pennant, but I'd bet next week's paycheck that it isnt a true vintage piece from the 50's.
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