Here's a badge I have been looking for for quite awhile. I have only ever seen two others. Thin, stamped metal with soldered on pin clasp. Brittle paint that is flaking off.
Cobra6 has pointed out to me that rifle closely resembles the Austrian/German 1895 Mannlicher rifle. The interesting part is the wreath, with oak leaves on one side and laurel on the other.
Something seen on many German badges from WWI and interwar period. I think that this badge is an early occupation piece. It is possible that the maker did not have an actual CIB to copy and this was made from memory or a sketch, hence the improvised rifle and wreath design. Interested to see if anyone has additional information.