I can't be certain, but I do suspect those Red Ballon chips are from the Red Balloon Nightclub in San Francisco. Makes sense of the S and F on the obverse, and the theme of the chips seems to match the theme of the building, seen here: http://www.worldcat.org/title/red-balloon-nightclub-san-francisco-calif-aerial-perspective/oclc/124010546&referer=brief_results

Also, the club was opened in the 1930's so it's definitely possible for the chips to have been produced for the club.

This isn't proof, obviously...just a reasonable lead if you want to look into it.