I have a minature life preserver (6"x6"), It's white and has USS IND on it. It is now pretty faded. This was given to me when I was a little girl, I'm now 63. I always really liked it and hung in my room for years. But I never really knew much about the Indianapolis until I recently watched a documentary on it. My husband suggested that maybe one of the crew made it.
It may mean nothing or maybe it means a lot to someone. I am sorry it has taken so long for me to find out about it. If anyone knows anything about it please let me know.