This is a fairly faithful copy of the 1949 Huret Competition, in this case with an hub axle fitting that is not for racing - and so may be for use with a hub gear. The dimensions are moderately ‘touring’, with the pivot about 80mm from the hub axle centre.
The Huret Competition (with only one pivot) was the strongest pull chain derailleur of its time and this is a strong well made copy.
I like the way that the coloured transfer logo has been applied over the top of the stamped logo. Branding may not have counted for too much in the DDR.