I'd guess this sign advertised the cost of a ring toss or knock down game at a carnival, and it's certainly got a very Coney Island/ seaside boardwalk sort of flavor to me with this lush and juicy red "5" against white ground. With its old hanging rope still attached, too. Nice.
13" x 9 3/8" and in great vintage condition, 1940s or so, I'd guess. General wear, all to the good, with black painted flip side.