interesting piece. i am enjoying the bone artifacts that are popping up on this site. my guess is that is was used as some sort of "jewelry" that hung down and not attached to clothing, etc due to lack of drill holes. i think it is interesting to note that the piece is not only notched, but also engraved on both sides. it seems to me that if they wanted to suspend the piece, all they had to do was to just notch it like they did. now i am second guessing myself so i will stop rambling.