Hallmark produced a wide variety of these small, non-embossed diecuts on a thin cardboard stock during the later 1920s and into the 1930s. For a long time I thought these items were produced by Whitney. However, as I added to my collection of items actually marked by Hallmark, I began to see that many of these diecuts appeared as images on their tally and place cards.
Some firms were disciplined about marking their individual items. Dennison was probably the most disciplined, followed by Beistle beginning in the 1930s. Hallmark falls in the vast middle with Whitney surely being the least disciplined.
04/23 Update: This sold for $16.50.
