"In early summer-1962, as California-based race car constructor was assembling the running version of the Mustang 1 concept, the Ford designers gathered in the studio back in Dearborn to review sketches for the badge. The goal was to create something that reflected both a horse for the car’s name and that the car was American. Phil Clark had been sketching ideas for a horse badge for several years the team preferred his concept for galloping horse with a solid vertical bar behind it and surround by a wreath.
It was felt that Clark’s original design didn’t convey enough motion and the American-ness was still lacking. Clark reworked it with a more flowing tail and other detail changes. The vertical bar became a red, white and blue tri-bar design to reflect the Mustang’s American heritage"