COOL OLD DRAG PATCH. ANYTHING SIGNIFICANT???

[Mr. Chevy]

I picked up this cool old drag racing patch a couple weeks ago for a few bucks. The seller did not know anything about it other than it was probably 60s or very early 70s vintage. Is there anything significant with this patch such as possibly associated with the US Drag racing team or is it just "a cool old patch???"

Thanks.... Rich

http://i268.photobucket.com/albums/jj37/RICHRUTT/Picture1464-1.jpg