This is a one of a kind original watercolor and pencil drawing by famous artist James Montgomery Flagg (he created the Uncle Sam "I Want You" poster) dedicated to his good friend and artist Harold Rodney Eaton "Hal" Phyfe who was the great grandson of Duncan Phyfe and who became a photographer for the Ziegfeld Follies.  Phyfe was known for his eccentricity in dress and for wearing moccasins and dressing down to denim while photographing New York Society.  He went to Hollywood to photograph but returned to New York as he missed the social scene there.  In 1950 he leased a penthouse in the Parke-Bernet Galleries at 980-990  Madison Avenue for his studio.  The postmark on the envelope which is addressed to him is February 10 1950 and has written "980 Madison Avenue City".   James Montgomery Flagg pokes fun at his eccentric dress in this caricature down to the moccasins.  This is an excellent example of the humor with which the artists viewed themselves and "High Society".   It has two creases (where it was folded to put in the envelope) otherwise it is in excellent condition with no foxing.  Please e-mail with questions.