Well 1st off, the cartoon goat ROCKS! Now I think the circular design is more symetrical, but I think the black text on blue background doesn't really work very well. I think there should be more contrast between the text color & the background color, it would make it much easier to read.
While I like the chain, I think that yellow is too bright. I'm guessing it's supposed to be a golden chain? That intense color tends to draw the eye away from the rest of the label. I think if you at least tone down the chain color, maybe even make it grey, it would help to both "contain" the rest of the label without detracting from the goat or the text.
I think the shield design is MUCH easier on the eyes though & really does a lot to showcase the goat. It's easy to read, and tends to reveal more detail to the eye at a glance. While the shield is less symmetrical, I think as is, it's far superior to the round label. I'm wondering why there is an apostrophe in the word goat; is "goat" some sort of acronym?
I think I like the shield/banner design the best. Regards, GF.