That’s a pretty good representation of an M-1873 single action Army. I’m surprised that Colt FA didn’t have proprietary issues with it - even the script is a little reminiscent of the COLT logo.
They probably considered it good free advertizing though - and it probably was.
The current team could probably put a dildo on their jersey’s and it would be fine... but not a GUN!!
GUNS = B-a-a-a-aa-ddd!!!
Notice in the original the C is shown as smoke from the gun barrel. With the removal of the gun the C is alone and unchanged and makes no sense like the whole affair.