A vintage AIM-7M Sparrow patch (an air-to-air missile). Circa late 1980's.
From a former F-4 fighter pilot - directly from Raytheon.
Oval shape - size about 4 3/16" long.

Manufactured by Raytheon, the 
AIM-7 Sparrow (Air Intercept Missile) is an American medium-range semi-active radar homing air-to-air missile operated by the US Air Force, US Navy, US Marine Corps, and various other air forces and navies.

Condition is preowned but never used. See photos.