According to the the Unicode folks, an Ethel (or œðel) is a Runic character, but it doesn’t much resemble your example.
Oh yes, I think I might have recently seen it in some IN book [too].
Paul, let me know if you’d like me to track it down.
BTW, I’m curious: What’s wrong with three vowels (visually)? Also, the “OE” there is linked due to grammatical rules - it’s like a distinct letter, so it’s not like it’s an option (although Baskerville for one has set them -or actually an “AE”- as two characters, just using tighter spacing to “link” them).
hhp
FF Acanthus by Akira Kobayashi has it.
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