1. I read that it is simply nothing beyond a stereotypical emisko symbolic of their Alaskan and Aleutian heritage.

2. Since the 60s or 70s, Delta has had this livery. In 1997, then-soon-to-depart Ron Allen wanted to leave his mark on the company, so they introduced a new livery which maintains the cheatline but removes the "Widget" from the tail. And, finally, in 2000, current CEO Leo Mullin, in his move to establish his mark on Delta, introduced a new image. All but gone is the "widget". It appears in a new rounded form, but it is off the tail entirely. The tail is a waving flag of red and shades of blue, with a totally bare body, save the Delta titles and widget on the front. Notice the new Delta typeface and logo says only "Delta" (not "Delta Air Lines") and, again, the new, rounded "widget". Here is the newest livery/

Here is a shot of the new "widget" and typeface. Here is a shot of the older widget and typeface. Finally, here is a unique shot of four Delta liveries meeting the camera at JFK (the old 60s/70s, the 1997, the 2000, and the special "Soaring Spirit" SLC-2002 livery).