The current patch is yet another in the evolution of the squadron's emblem and, technically, another color variation of the original. Its predominant color is royal blue, with gold bordering the circle. In the center, a gray knight with a blue shield, a red and white coronet, and a winged helmet is mounted on a large, gray and white stallion. The knight holds a silver, white and gray lance. A large, cratered, sliver moon and the red numeral "37" are in the upper right hand area. Gold is used for the knight's spur, the saddle girth and the horse's front hoof. This variation, the third major color change, has been used since 1976. It is possible to find examples of this patch without the red on the knight's coronet or headban.
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