That was one of the many items issued by Chevrolet as a souvenir/goodwill item.
In your case,it was done for the Chevy Indianapolis Tuck plant,where their sub-assemblies were made.
Although that #1 team logo was used frequently during the 1967 dealership merchandising campaign,it was originally created for Chevrolets Manufacturing & Assembly Dept.,which used it repeatedly throughout their system & plants,up through the 1970's.
Neat lil piece,with a tremendous amount of impact behind it.