Lido Lures were manufactured in New York around 1946 to 1949. This one is called a flaptail because of the metal “tail” at the back that flapped and attracted hungry fish, probably because it looked somewhat like a flashing bait fish. Frank Lovello, Bill Linzi and Joe Brooks founded Lido Lures.
Not much information is available (at least I can’t find much), but here is a tad more:
And this page of the site has a wealth of information on old saltwater lures – all kinds:>)