That was a really big find and i am so happy for you! My aunt has 3 sets made like that from 1930 and 40's fabric by her Mom when she was in her 80's. Looks very similar to yours. Hand pieced and not always with matching thread or evenly cut and some pieces even inside out. I left them as is, for the memories. Appliqued to off white Kona cotton, trimmed with blue Kona cotton. There was one square left over which I hand quilted and framed to go in the bedroom too. My aunt loved this.
The next set I plan to do with a light green and ice cream cone border so it will be different but still go with the times.
Good luck. You have a true treasure.