With its ray gun-toting martian/spaceman receiving earthly transmissions via his magical emerald helmet all while zooming through the heavens on his zippy jet, this patch is total 1950’s. The 147th flew F-84 Thunderstreaks when this patch was worn. The unit lost their air defense role in 1961, and with it, this fantastic patch.
The “Martian” is a character known as “Ovacron”, the creation of a Pittsburgh disc jockey in the 1950’s. Given that the 147th was based at Pittsburgh AP, the pieces start falling in place. This info also dovetails with my thoughts: it looks like a cartoon character, and not just something thrown together in the squadron.
The Jive Bomber 