Baby Peggy (Diana Serra Cary) was one of the three most famous Hollywood silent movie stars along with Jackie Coogan and Baby Marie. Between 1920 and 1924 she was as famous as most adult stars. Like Coogan, she saw her millions of dollars squandered by her parents. This piece is certainly among the very first licensed products endorsed by a child movie star. It consists of a beautifully colored box 3x3x1.25" deep with a hinged lid. It is covered in pictures of her captioned "Baby Peggy" along with various pieces of illustrated jewelry. Mounted in the interior lid of the box is a 2" long stiff paper label also picturing her and with the text "This Little Gift I Send To Thee/To Give You Joy As It Gives Me." Box is lined in a satin-like fabric with just a little brown tone on the lower panel. The item itself consists of a 1-3/8" tall gold foil embossed shield shaped tag with her bw photo on the front and with text on the back "Genuine Baby Peggy Jewelry" plus tiny text "By Arrangement With Principal Pictures Corporation." A small string tag is attached which has what seems to be a penciled stock number on it. The piece of jewelry is a 3/16" wide circular brass bracelet 2" dia. Bracelet has .75" segment in yellowish enamel and picturing a pink rose. The bracelet does not open and is a solid band. A few trivial tarnish marks mostly on the inner surface. Overall Exc. condition on the bracelet, the tag is Mint, the box is VF. Only example we've seen.