The «Panzerschreck RPzB. 54» PVC patch

The Panzerschreck RPzB. 54 (Raketenpanzerbüchse 54, or "rocket anti-tank rifle") was a German shoulder-fired anti-tank rocket launcher used during WWII. It was developed in response to the American Bazooka, and the RPzB. 54 was the most common and improved version.