I think Antiquarian is on to it. Repurposed. The ribbon is likely a vet reunion item. I think the original ribbon color was red white and BLACK, which are normal colors for Germany in that era, and the black faded to blue. The red white and blue flag doesn't represent anything German. I searched German military and found no red white and blue colors on anything. Those are the colors of US, Britain, France, and Russia. Just my 2-cents. Gary