Illustrated Envelope w/original mailing label shows moderate wear from mailing w/upper right corner missing .75x1" and .25x1.25" areas which have been repaired w/archival tape. Good/VG.10x14.5" w/stiff paper cover plus four inside pages. Exceptional punch-out book w/very nicely designed and detailed punch-outs. Ovaltine. ©1935 Famous Artists Syndicate. Front cover features big top circus scene w/inset star designs noting contents of "Orphan Annie And Her Circus Troupe, Real Trained Nodding Head Animals, Funny Clowns, Bare-Back Rider & Seal, Famous Puppet Show And Talking Actors, Clown Hat And Mask, Ticket Office, Tickets & Play Money." The "Circus Troupe" punch-outs are on back cover and characters include Annie, Sandy, Joe, Hans Vogle, Jupiter, Lucky, others. Back cover has a few loose perforations, but all pieces remain intact. VF/Exc.