Azure, an elk’s head erased argent, ensigned between the attired with a coronet of Canada, or.
(Glossary of Heraldic Terms)
The elk’s head is distinguished from the other members of the deer family by the antlers. To indicate that this particular animal is of Canadian origin, a coronet with maple leaves has been placed between the antlers, the heraldic term for which is “attired.”
Elk was originally the American yacht Arcadia, commissioned into the RCN in September 1940. She wore pennant SOS then 727 until she was paid off in August 1945.
White and blue
China, 1856-1860.
Badges Of The Canadian Navy by Arbuckle, J. Graeme. Halifax: Nimbus Publishing, 1987.