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First there was the National Advisory Council on Aeronautics, or NACA. It was created in 1915 to do aeronautical research, and a lot of its research is still used; the wings on all airplanes are designed as NACA airfoils. NACA also created the cowling used on every radial-engined airplane made since 1927. When spaceflight became possible, NACA was expanded to do research into civilian applications of space, and NACA became NASA.

As to why it was created in the Cold War...that falls into the "well, it just happened that way" category.

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Q: Why was the NASA created in the cold war?
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