I agree that it is cool.
Heritage auctioned one in 2008 and had this to say . . .
"Thurman Munson Commemorative Bat. Commemorative Hillerich & Bradsby bat with "250" in the label was most likely presented at some sort of celebratory event held by the New York Yankees. Unique characteristics include the appearance of "Air Seasoned" next to bat's label and "Donated by the New York Yankee Foundation" on the barrel."
As for their guess that it was presented at a charity event, that seems off to me, but I don't know anything better.
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