This mini-storm/debate has been raging for decades. Here is how I imagine the originals being created. Fraus and Frauleins sitting in a large room in front of foot pedal sewing machines whirring away while they cut and sew. Then the Roundel is imprinted on each cloth, by hand, using some kind of 19th century press.
I base this on what I believe is the true story recounted on this site, or was it 2002AD, about a member looking into a large room at the factory in the early '70s where more Fraus and Frauleins were sewing 2002 tool wraps from pieces of discarded seat vinyl.
Let the debate continue.
PS: Mine is white with a red stripe with BMW imprinted. Not original for sure, for the motorcycles I believe, but I like the look.