The Masters green jacket is one of the most iconic symbols in golf, awarded annually to the winner of the Masters Tournament. First introduced in 1937 as a way for Augusta National members to be easily identified, the tradition evolved when champions began receiving the jackets in 1949, starting with Sam Snead.
The jacket is made in a specific shade known as Pantone 342, a distinctive green that has become synonymous with the tournament. While champions are allowed to take the jacket home initially, they are required to return it to Augusta National Golf Club after a year. From that point on, the jacket remains at the club unless the champion is wearing it during an official visit or approved event.
Strict rules govern the use of the green jacket. It may only be worn by the recipient, and only at Augusta National or during Masters week. Former champions do not receive new jackets each year, and replacements are issued only under rare circumstances. The jacket must not be altered, sold, or passed on to heirs, preserving its exclusivity and tradition.
Sources: https://golf.com/news/history-strict-rules-masters-green-jacket/