Its a Stock fender ornament, seem with the Deluxe Models of these Columbia [and some Murray] Spacebikes.
Its about a 61-1965., In that shape worth about 150., full retail. 100 would be a deal. All looks to be Original. Might be missing a Speedometer, but that doesnt hurt the value,. many bike accessories are stripped from the first owner.
The Columbia Variations of these I feel around my neck of the woods [Providence, R.I.] are a little harder to find than their all too familiar Murray Bretherin, but not excessively collectible in terms of a "SUPER BIKE"., it does however suit well with a starting collector, and would probably clean up nice for a few bucks profit.
IMO.
-Zombie