Originally formed in 1927 as Bombing Squadron One on the USS Lexington they became VF-5 in 1932. The squadron was assigned to the USS Lexington and in March 1936 they received their new Grumman F3F-1. On July 1, 1936 they transferred to the USS Ranger and still known as VF-5 until 1937 when they assumed the title VF-4 (Red Rippers).

The willow-green tail signifies the USS Ranger, the color blue signifies the third section, the solid blue band around the engine cowling signifies the first aircraft in the third section and the blue band around the fuselage signifies the unit leader of the third section. The second aircraft in a section would have the top half of the engine cowling painted and the third aircraft in the 3-plane section would have the lower half of the cowling painted.