This Mid Century West Germany Christmas tree topper angel or figurine was made by Koestel. She's about 6-1/2 inches high to the top of her molded wax head, with the embossed gold metallic wings extending a little higher. She wears an olive green velvet tress trimmed with and braid and holds a plastic lantern in one wax hand. Inside the cone dress are labels reading Made in Western Germany and Koestel. There are three tiny metallic specks on her dress. I believe there were little foil backed jewels or rhinestones there originally. The wings have some slight waviness (like creases but not quite), otherwise the angel is in good condition.
The second Koestel angel shown in the photos is a bonus. She's about 5-3/4" high and has some old glue where her hands should be - she may have held a ribbon streamer or banner. The wings are pinned at the back, not glued.
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Koestel Wax Angel Christmas Tree Topper Figurine