Was this from King Kong? There was quite a debate on another thread, This could have even been built for Kong but never used, or rebuilt from pieces, who knows. The body of the plane seems right in almost every detail, but the wings are a little funky, although the wings of the planes in the film are also funky. The wheels also do not match, so it is quite a mystery. 

I think that the plane is made out  wood, at profiles in History, they would not let me take a knife to it, so I can't be more precise, but I can say  it was at least five pounds in weight, so it was not the lightest prop suspended by wires that I have ever seen. It looks to be repainted as well, except for the emblem on the side of the plane, which features Mickey Mouse, flying on a goose, past the statue of liberty.

The plane that Kong grabs appears to me to also be the plane that flies past him before that, in the same shot, which makes sense that they only rigged one plane for that shot, and flew it by twice.
By the way, at that auction there were many Kong production drawings that were absolutely astounding, and some story boards from the film Creation, that were in color. Don't take my word for it, look at the link below.  It was a wonderful auction, and I would love to tell everyone about the things I bought there, and post pictures, but everything went for a few pennies above what I could afford.

Artwork link.

http://www.profilesinhistory.com/items/ … -kong.html

These are the Kong photos from the same auction.

http://www.profilesinhistory.com/items/ … -each.html

Enjoy

Neat - I really should get around to seeing these old classics...