This piece of insignia art was offered on eBay a couple of months ago. The design was created for the USS Satyr, a Landing Craft Repair Ship.
Satyr was laid down in August 1944 and through a series of commissioning and decommissioning ceremonies, eventually arrived at Guam as the war ended. After being repaired following a collision, Satyr performed Occupation Duty in Japan.
Satyr did see action during the Korean Conflict and the Vietnam War. She was eventually decommissioned and transfered to the South Vietnam Navy in September 1971 and with the fall of the South Vietnam government, the vessel served in the Philippine Navy.
This design was created in the spring of 1945.