🔎 UNIDENTIFIED Round red horse pendant shaped item?

[Prymelady]

I have tried hopelessly for days to figure out what this thing is. It's made of what looks like leather or faux leather. Center horse is enameled. Came in a lot of antique/vintage jewelry. The round part measures 1 3/8" in diameter. I can't even take a guess as to what it may be. The bail doesn't sit the correct way to be a pendant.

 

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[traveller777]

I have tried hopelessly for days to figure out what this thing is. It's made of what looks like leather or faux leather. Center horse is enameled. Came in a lot of antique/vintage jewelry. The round part measures 1 3/8" in diameter. I can't even take a guess as to what it may be. The bail doesn't sit the correct way to be a pendant.

I would bet money it was attached to a ladies pocketbook or handbag. One with a western motive.
Thanks for posting.

 

[GoldieLocks]

Large tot bag Logo? Maybe European designed?

 

[Shakakka]

Could it be an equestrian medal, and the opening at the top is wide because a ribbon ran through it?

 

[CaptEsteban]

It might have been for a handbag, as mentioned above. The wide bail could have had a strap/belt run through it.

 

[Gare]

What about a Scarf slide or neckerchief ?