The red, white and blue letters in a circle with wings on the V describe one of the oldest types of Americana collectibles out there; the vintage chevron gas sign. They can be found many places online, both authentic and fabricated with a cost that is not terribly high.
The vintage chevron gas sign can be affixed to a garage wall, a work area or even a restaurant or place of business that tries to sell the feeling of nostalgia. Since this is California company, it would also make a great gift to anyone from there that grew up seeing that sign in the early days.
All in all, a vintage chevron gas sign is easy and cheap to find and would make an excellent addition to many collectors, especially those that grew up in California.