How do I change the background for transparent images in THREE.js?

https://codepen.io/joe1992/pen/yLQRwrg

In my Three.js project, I want to apply a .png file to an object, but the alpha channel doesn’t allow the color of the underlying object to show through; it seems like everything is being removed.

I had tried many options, from the transparency of the image to blend combinations, could it be related to that?
When I use the following code, it comes close to what I want, but the white background is not transparent like the rest of the object:

blendEquation: THREE.AddEquation,
blendSrc: THREE.SrcAlphaFactor,
blendDst: THREE.OneMinusDstColorFactor,