For sure that will be a token, medallion, good luck or advertising piece.
Whatever it is, the imagery is for the folklore “William Tell feat”. If you look closely, the boy is holding a crossbow bolt that has pierced an apple.
There are various versions of the folklore tale, which is generally associated with Switzerland. The most popular is that Tell was ordered to shoot an apple off the top of his son’s head with a crossbow for failing to show respect for the newly appointed Austrian Vogt, Albrecht Gessler and that this kicked off the Swiss revolution.
I can’t see it as an advertising token (for, say, a company with Swiss heritage) in the absence of any company name. The tale has come to be the embodiment of marksmanship and skill in general, so I would guess it’s either an award of some kind or just a pocket piece for good luck. You might also look for an arcade or arcade game association, but Google hasn’t been helpful for me here.
It may be ‘rare’ in the sense of not many of them turning up, but I would doubt it to be particularly valuable.