The Quenching Emblem is actually a bottle cap from a 7-Up soda drink and can be the third treasure found in Pikmin 2. It is found on the first sublevel of Emergence Cave, and can be easily located either on the ground (be sure to get rid of the surrounding Snow Bulborbs) or in the short narrow pathway. It is one of the 2 treasures in the Odd Logo series that is in the japanese version.
Notes
Olimar's Journal
"Quenching Emblem/journal"
Sales Pitch
"Quenching Emblem/sale"