Washington Lincoln Wall Hanging

I am hoping you can help identify this item, since it has Washington and Lincoln on it. I’ve searched everywhere online and can’t identify year or even for sure what it is. It was hanging in my grandma’s log cabin for years and year. She passed away in 1981 at age 79. It looks like a magazine or sheet music holder, but the presidents on it is odd. Inside where the magazines would go is pretty red paper. It’s possible she painted it a solid gold, although she was an outdoors person and not at all crafty, so it seems unlikely. I’ve heard guesses that it was made for the centennial or for a school. The back is wood and there isn’t any marking or lettering. We are holding an auction and I would rather not put this on if it is rare or has special value. Any insight you can offer would be greatly appreciated! Darleine