The things you can find in the woods. Spent the weekend digging up many 1700's nails and spikes but nothing noteworthy. This may be some Scout's Order of the Arrow ribbon. The BSA seems to like the Chieftain motiff.
Interesting find. I agree it looks like a watch fob. I joined the cub scouts in 1957 and have been with the organization since then and I am still a scout leader. I also have been a member of the order of the arrow since 1963. All that being said this does not look to me like anything made by or for the Boy Scouts. Stay safe and keep swingin.
Most likely true it is a fob but possibly one a Scout would own. I know historically that Scouts did camp in this area over a period of decades. I found these two slides, also a BSA canteen, official pocket knife, and three brass belt clips. I was a Boy Scout in the early 1970's and know that sometimes our Troop/Council/regional summer Camp did offer special awards with patches, ribbons, slides, and metals of our own local design. Here is a piece up on Ebay now with the chief motiff.
More Scout items I found earlier in this neck of the woods. Actually a Girl Scout canteen. All this stuff has been around on the forest floor long enough to be buried.
I also believe it is a watch fob, and although there is no writing on it, it could be related to the auto maker Pontiac. There slogan was at one time "Pontiac, Chief of the sixes" for the six cylinder vehicle.