This item was on display on a recent exhibition here on the 'Roman
Iron Age' (ca 1 - 500 CE) in Denmark.
http://sejren.natmus.dk/ST/genstande.asp?ID=49&offset=3
The catalog (but not this text) cast doubts on the information from
the person who handed it over to the National Museum that it was
found with what seemed to be a red and blue banner attached to the
griffin head, on the grounds that the infomation was 'second hand'.
If true, the head might be (or have been used as) part of a dragon
standard after the Sarmatian fashion. Other than that, the catalog
readily admits Sarmatian influence in finds after the Marcomanni wars
(end of 2nd century CE).
Torsten