AREN'T WE PRETTY

I think this must be a memento from WWII.

The design on each blade of the fan is balsa wood and has been intricately cut, I am guessing by hand, since they aren't perfectly shaped. It is hard to tell in the picture, but each of the letters is cut out, as well as little darker spaces in each part of the design, including the little arrow shapes at the bottom.

And the painting, which looks like watercolors, has been done by hand as well. The deep blue 'squares' is a length of ribbon that holds the blades together so that they can fan out or be closed.