Compare to Holgate #1107 "Rocky Color Cone", late, of the same era. This one has a less glossy finish, looking more like milk paint. The base appears to be lightly dyed yellow, with a thin orange paint on the center shaft.
The box is complete, but glued edge has separated. It has a 1948 copyright. I currently believe this decal indicates it's several years after that, but more research is needed.