This is an antique Japanese military sake cup, decorated with a number of flags, including the flag of Korea, US, UK, etc. A customer once suggested that this may be for the Treaty of Portsmouth, which ended the Russo Japanese war. This sounds pretty plausible - because the Korean flag ceased to be used after annexation in 1910. The words are "Empire Banzai".

Condition: Excellent - some fading of the colors on the Japanese flag.

Size: 3.25" across