Brad - I have seen a few "Bear Archery Shop of Detroit" water transfer decals on archery related items. They could be on just about anything. I traded off a Kodiak with one in the sight window. Still have these decals...
2 on arrows on late 1940s arrows.
1 on Bear Leather Scabbard Bow Quiver - LH.
1 loose unused, guess it could still probably be put on anything about 60 years after it was made.
A couple are like yours which is just two colors, black and white.
A also have two that are three colors red, black and white, which stand out a little more especially when put on something black.
The "Pot Belly Bear" on the decal was a cool logo that Fred used for a few other items, e.g. NFAA Grayling, Michigan Patch.