Thanks for the suggestions guys. The hand cut from a box theory may be plausible.
There is indeed writing in the right corner which does not appear on the copies of this photo I have found, but unfortunately it is not legible even through a glass or loupe magnification.
Using a black light it does fluoresce more than other prewar items I own but less than modern cards and paper which indicates it is more likely than not to be postwar. It does appear to be vintage in hand and I doubt it is a fantasy card. My current guess is probably a 1940's to 1960's piece hand cut from a box or poster and somehow tied into a Kresge's promotion. An interesting piece whatever it is.
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