Mark B. Ledenbach's vintage Halloween collectibles blog.

Vintage Halloween flying owl--wings flap-

These owl decorations were made by Gibson in the early 1930s. They were made in two sizes. These appear to be the smaller of the two sizes. The larger design measures ~7.25" high by ~6.75" wide by ~11" long. The larger one typically trades for $65. 

06/05 Update: The prevailing bidder got a bargain scooping these up for $56.69.