Tercio de extranjeros, 1921
"In the early years of Tercio, the company bearers showed a general color on for each (yellow, red, green ...) and cross of San Andrés in the color of the “bandera” to which they pertain; black for 1st “bandera”, red for 2nd , blue for 3rd, etc.. But, while this information is well contrasted, there isn’t a reliable documentation which color corresponded to each company, so there are few examples confirmed ".
A “Bandera” is the equivalent to a battalion.
Tercio de extranjeros, 1921 54mm metal figure