This black pennant came from an estate of a woman who had attended OSU (Then Oregon State College) back in the 1930’s. It is slightly smaller than a traditional full sized pennant and it has stitched orange letters on the black felt.
From 1927-1937 Oregon State was known as Oregon State Agricultural College, but I’ve never been clear if they went by OSC during those times, or OAC as it had been known as prior to 1927 (I bet referencing some old yearbooks would clear that up!). I don’t think I have ever seen “OSAC” as an acronym used on any pennants or anything, so my best guess is after 1927, despite still having the Agricultural in the name, I think the school went by OSC, as referenced on this pennant. This specific OSC logo design, with the letters overlapping, isn’t very common and I have only seen it on two different pennants. And the fact it came from an estate of a student in the 1930’s makes it clear it was one of the early OSC logos once the school had changed names.