As you can see, when I'm working on an official license, they (usually) send me LOTS and LOTS of official images.
If they want me to get it right, they better!
PLEASE disregard the fact that I used Heat'n'Bond LIGHT. I was on very tight deadline and didn't have any of the regular Heat'n'Bond on hand. The light version probably won't hold through a wash cycle. But, if you do use the light version, I would recommend removing the emblem when washing the costume.
ANYWAY, trace the design on the paper side of the Heat'n'Bond, press to felt (follow instructions that come with the Heat'n'Bond) and carefully cut it out.
I told you I had a tight deadline. This is ALWAYS when mistakes happen. Grrrrr!
Continuing ... press the cut out shape with the Heat'n'Bond onto the second color of felt. I waited until after this step to cut the yellow to the right size. To me, it is easier that way to get the outer border exactly even.
Anyway, that one ... DONE.
And this time it is important TO USE the Light Heat'n'Bond. This emblem requires lots of stitching which will completely gum up your machine needle if you use the regular Heat'n'Bond.
Well, less sewing, the curved lines are hard. You can see mine are a little wobbly.