A Treasure

I've mentioned my interest in Vintage Ephemera recently. Over the weekend, I picked up a package of cardstock ephemera reproductions made by 7 Gypsies. To my absolute delight, this item was one of the pieces.

I'm a Penn State grad and this is quite a treasure. I would love to know how 7 Gypsies came to have this item and why they selected to include it.

Thanks for reading.