The patch, shaped like a shield and outlined in black, has five white stars on a blue background in its upper portion. The nickname "ALL STARS" leaves blue contrails as it flares from the red and white vertical stripes of the lower portion. The blue numeral "38" sits to the upper left of the nickname.
The patch resembles the American flag and the Air Force shield and symbolizes the qualities of patriotism, courage and devotion to duty. "ALL STARS" is testimony to the excellence with which each squadron member performs his duties and responsibilities. The five stars stand for the five ideals of the squadron: character, discipline, devotion to duty, excellence and pride.
This second patch of the squadron was approved in 1972.
Infomation gathered for the page from "Squadron Insignia of the United States Air Force Academy" by P. Michael Sheridan, Library of Congress Catalog Number: 90-62369