Misha,
Your photo was dark, so at first I thought this was a Viet Nam-era USAF vest made out of nylon. But I edited your photo so I could see details and it doesn’t appear to be that type.
I found a vest just like yours on eBay: Item number: 6538681144. He thinks it was made between WW1 and WW2 but I don’t believe that. The US Air Force (organized in 1947) still used the Star and Wings insignia from WW2 era. However, his vest does have “Army Air Forces†printed on it which does signify pre-1947.
Here is another one just like yours on eBay listed for $75: Item number: 6539573592. That doesn't mean that is the value of it. But keep an eye on it to see how the bidding ends.
Marion,
Speaking of your new purchase, that brings up a question. What became of your Father's uniform and/or insignia, patches and such??? Did he save it and pass it along to someone in the family??
Steve