It was found in the South, is non magnetic, initials CS, appears very old, pendent loop may have been added, perhaps it was a hat or lapel pin, insignia or metal, any info would help, measures 1-1/2 x 3/4"
Thank You
KEVIN SAYS: Greetings!
Your pendant appears to be 3 letters making up a cypher of the letters: S I C not just 2.
Looking at the suspender loop, I doubt it was a hat or lapel pin because it would not hang properly, but it is possibly a privately made watch fob. You need to determine if it is silver or not, and if there are hallmarks or a makers name. this will give you a date of manufacture, where it was made and possibly by whom.
Being non-magnetic is certainly indicative of it being silver, however this could also be a casting of zinc or white casting metal which is also non-magnetic.
Time for a trip to a jeweller....
Good luck
Kevin