When I got the above pennant, I proudly told fellow Giants collector Bocca that I had found a "variation." He said "duh" (not really) and sent me a pic of all the colors he has. I had always thought it only came with orange graphics. At least I now know there are some affordable pennants out there that I can look for. On a related note, Bocca and I have never seen the orange "felt" version in anything other than stiff "felt" and crappy, less detailed graphics. These remind me of the Polo Grounds pennants I see from time to time. I don't really think these are meant to deceive. Maybe just a later printing by a different maker? BTW, the orange Polo Grounds is available on ebay for the bargain price of $125.