It’s hard to see in the photos but is it a key of some kind? Looks almost like a key to tighten banjo hooks or the strings on some other kind of instrument. Is that hole in the bottom an Allen key hole or for a nut or is it round?
Well, there's a eyelet at the top so that suggests an amulet of some kind. The hocus pocus looks Wiccan, maybe? Is the round end threaded? Perhaps some type of roach clip!