Kinda looks like a symbol of some kind that may have been displayed on a fence or land or homestead . Just a guess. I'm sure someone on the forum can ID..Congrats on the find..
I found this in my yard.. my house was built in 1907 but for many years before that this was cow pasture I was told. I have found horse shoes as well as an ox shoe here.... so the vote here is this had something to do with watering cows??