This is called the "First Place" jacket. It's a black jacket with zip front & GHZ style checkered fabric interior. The front has a small white embroidered 'finger waving' Sonic, while the back has a much larger & more detailed embroidery design.

The only thread color here is white, and everything is just an outline. It's finger-waving Sonic again, but bigger, flanked by two star bumper shapes. "First Place" is written over him in an arch, then under is "Sonic" spelled out in the logo font, and then written again, but this time smaller & in the Japanese letters instead.
Notice that one of the sleeves has a small zipper on it. The cuffs & bottom are a stretchy material. This jacket should be 100 pound price.