Quote:
Originally Posted by Oberon
perhaps this was a badge as a celebration of twenty years of the Golf SSB in the Baltic fleet? 
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This is again a moment when I raise my hands in the air and humbly admit how little I know about history. That theory however sounds plausible to me: medals and badges have been made for much weirder reasons than that. Without any further context for the object it's difficult to say, however, from what era exactly it is.
A naval museum, even if not specialized in that field, might be able to help you with the timeframe and even the context of the badge. It's surprising how many resources the museums have that are not visible to the eyes of the public.
Or you could play detective by finding the sender of the badge and have him/her confess directly.