I think it may be part of the saddle from a copper horse they used to give away as prizes at the fairs. I will look when I get home I have a whole collection of them.
Oh I am positive, I'm looking at about 30 of them with different stirrup designs. Look at the piece near the front leg. Makes me very sad to know there is one I can not rescue and add to my collection. Find the rest for me and I will glue her up.