RCAF No. 1 O.F.U. (Overseas Ferry Unit).  This patch was available to RCAF pilots and support ground crew who transported F-86 Sabres and T-33 aircraft to Europe and later, returned earlier versions of Sabres to Canada. The OFU existed between 1953 and 1957. The Crest was manufactured by Crest Craft of Saskatoon and carries the back-stamp used in the early to mid 1950's.
<a href="//commons.wikimedia.org/wiki/User:A_much_better_place" title="User:A much better place">A much better place, Wayne Logus</a>
CC BY-SA 4.0
<span class="int-own-work" lang="en">Own work</span> scan of patch. Originally designed by Gustav Werle, founder of Crest Craft Ltd. of Saskatoon, SK.