This is the WW1 version of the 4th (Hallamshire) Battalion Cloth Shoulder Title and was used by the 1/4th Battalion.
It has khaki background with red lettering and is similar to the WW2 version (which is slightly smaller and has a lighter khaki background).
In comparing the 2/4th Battalion title (shown elsewhere in this section), the main differences are that the lettering for the 1/4th (Hallamshire) Battalion is red whereas the lettering for the 2/4th (Hallamshire) Battalion is yellow.