94-98 Cobra badge question

i have a 97 Cobra. I have noticed some 94-98 Cobras come with a cobra badge on the front grill while others come with a mustang badge.
anyone else noticed this or can anyone tell me why this is?

All Cobras come with the pony in the front as far as I know. It's just that a lot of people replace the the pony for the snake.