It looks like an anti-war item from the sixties intended to promote the idea of peace in the US during the Viet Nam conflict, with the dove of peace and symbolic olive branch wearing the red, white and blue of the United States. I think it would have sent a pretty clear message in the 60's. Peace items were everywhere, even on items intended for kids like this piggy bank. I can remember having peace symbol jewelry, a POW bracelet and things like that even though I was a kid in the 60's.
