Very Cool find!!!
All I come with when doing a search is, it looks to be Scottish?
I found another buckle with the lion on it,http://www.scotclans.com/shopping/HP-GS02.html
It seems to a symbol for one of the Scottish Clans... May have been a buckle for a kilt
Good luck with the ID, and more info....
It's a nice old watch fob. There very collectable. I have a few tucked away myself. Nice find too. They can depict just about anything on them also. I know a guy who has a collection of 20 or so he dug over the last 30 yrs or so. Hope this helps you. Let me guess to there's no markings on it at all on the front or back to tell you who made it.