This is a badge for the 50 year existence of “50 Jahre Tuspo Harleshausen” 17.u.18.8.1885-195. Im not sure, but think this might be a Deutsche Turnerbund badge (see the symbol at the lower left corner -> TB?).
The centre is made of woven cloth, which is set in a metallic frame.
On the reverse is written (stamped in) D.R.G.M Crisse & Co. W.-. Elberfeld. Aus Feller im Dresdner-Hof.
This is a very rare badge and the first i’ve seen in over 25 years of collecting german badges!
In very good condition.