Webster's Dictionary defines an insignia as 1) a badge of authority or honor and 2) a distinguishing mark or sign. I have to think that similar to mascots, insignias are made to bring good luck as well. Military artists as well as several major cartoon studios produced these type of insignias for the U.S. military. These are a cousins of the typically voluptuous nose art seen on bombers during World War II and closely related to the current squadron insignias seen today in the Navy and Air Force.
Before the war had ended, Disney had created some 1,200 cartoon insignias for all of the branches of the U.S. Armed Forces, as well as for many Allied troops. Reflecting the esprit de corps and bravado of the unit, the cartoon character patches were worn with pride. With the exception of Bambi, virtually every Disney character appeared at least once on a logo.
From http://www.atissuejournal.com/2010/08/10/wwii-military-logos-by-disney/Here are some of the World War II insignia matchcovers I recently bought:
This is an early Schlesinger version of Bugs Bunny used in this insignia.
