Except for the saw teeth, that photo seems to match the "Bush-Axe" (not Brush-Axe) model shown in the advertisement. The patent number (stamped on the blade) leads to an interesting patent about how they are manufactured:
https://patentimages.storage.googleapis.com/6b/b7/02/3bed46ecba36b8/US2335497.pdf
The overstamped model number, 661S, was evidently the type used in survival kits for airplanes, etc.
From an old auction listing (no photo available, unfortunately):
VINTAGE SURVIVAL KIT
by SURVIVAL EQUIPMENT CO. Division of VICTOR TOOL CO.
PROBABLY MADE FOR THE MILITARY AND TO USE ON AIRPLANES ETC.
EXCELLENT CONDITION, COMPLETE & NEVER USED!
WATER BAG IS DATED
1946
WHAT YOU GET:
Nice unused Machete type knife
#661S for cutting and sawing your way through the jungle! (w/ case) Bundle of rope. Heliograph Signalling Mirror w/ directions & case. Plastic Blanket. Insect Repellent Stick. Water Boy Drinking Water Bag by Wenzel Tent & Duck Co. Bandage w/ directions for Arm Sling, Tourniquet, & more. Silva Compass (type 5) 2 10 Min. Red Highway Fusee (Flares) Field Champion Whistle. Waterproof Survival Matches. Mosso'o Oil-O-Sol (soothing antiseptic) Tablets for purifying drinking water. LIPKOTE by Coppertone. BC Tablets for Headache, Neuralgia. Red Cross Cotton. Gauztape - Cohesive Gauze (medicated w/ Mercuic Chloride) Asst. Bandaids, guaze pads & tape. Case & Box.
https://www.worthpoint.com/worthopedia/vintage-victor-tool-survival-kit-complete-unused
Victor Tool's "Survival Equipment Co." had an advertisement in
Flying magazine, July 1959, that lists a
"
Combination 16-1/2" Survival Axe & Saw 661-S-CZ4"