I would assume you are right that "Monarch" was his dog. And I am "almost" sure they would never hem a scarf in a third color (from the scarf or the edge) -sure the experts will weigh in on this... but my quick search turned up this beautiful site (have the patience to scroll down!)
http://translate.google.com/translate?hl=en&sl=fr&u=http://www.harasdelaferrandiere.com/page109-succes-de-la-coupe-xavier-de-poret.html&ei=GOQtTqazHYTHgAfu4KX_Cg&sa=X&oi=translate&ct=result&resnum=4&ved=0CDIQ7gEwAzgK&prev=/search%3Fq%3D%2522Xavier%2Bde%2BPoret%2522%26start%3D10%26hl%3Den%26client%3Dsafari%26sa%3DN%26rls%3Den%26biw%3D1373%26bih%3D1247%26prmd%3Divnso
http://translate.google.com/translate?hl=en&sl=fr&u=http://www.harasdelaferrandiere.com/page109-succes-de-la-coupe-xavier-de-poret.html&ei=GOQtTqazHYTHgAfu4KX_Cg&sa=X&oi=translate&ct=result&resnum=4&ved=0CDIQ7gEwAzgK&prev=/search%3Fq%3D%2522Xavier%2Bde%2BPoret%2522%26start%3D10%26hl%3Den%26client%3Dsafari%26sa%3DN%26rls%3Den%26biw%3D1373%26bih%3D1247%26prmd%3Divnso