Based on my knowledge this is not a real scheme.
The Mig-17F in North Vietnamese service did not have the national marking on the tail, but rather on either side of the rear fuselage.
see a photo I took while in Vietnam
Also, I don't know if they had an aerobatic display team aircraft that would be painted as such.
The rest of your picture appears to be a speculative copy of the Soviet air force aerobatic team.
If you have more details or other photos similar to the one you posted, it would be helpful.
Isaac