The following description is taken from the 1969 Fender lovin' care catalogue
Fender's popular Mustang meets today's growing demand for a fine low-priced guitar with tremolo. The Mustang may be classed as either a ¾ or regular size guitar since it is available with either 22 ½ or 24 inch neck. Two adjustable high-fidelity pickups are standard on each guitar with three-position switch forward on each. The middle position turns the pickups off and tone changes are made on either side of the off position. Eight different tone selections are available, plus the normal tone and volume controls.
Both the 22 ½ and 24 inch necks are reinforced with an adjustable truss-rod which maintains perfect neck alignment. The bridge channel features Fender's new individual barrel-type bridges for each string. Each bridge varies in size to conform to the fingerboard curve and is adjustable for length. String height may be adjusted by lowering or raising the bridge channel at either end. The new patented Fender easy-action Dynamic Tremolo working in conjunction with the Floating Bridge has extremely smooth action, returning to tuned pitch without variance.
All chrome parts are case hardened and heavily plated to retain their beauty after long use. Available in re, white or blue finishes. Left-hand models available by special order.