Vintage Landry's Custom Built Bicycles Victory Series Challenge Head Badge - Landry Cycle Supply Company, Framingham, Mass. U.S.A.
Believe this was used during WWII era, when Landry's was assembling bikes from different brand parts available.
Badge is flat, brass, never installed. Measures approx. 3" in diameter (closer to 2 15/16"), centers of mounting holes about 1 15/16" center to center.