Would like help to ID this please

[Southcacalaky]

I found this about three years ago on an old Navy Base. It appears to me it might be a Sports medal of some sort. There are no other identifying marks other than what you see in the picture. Nothing on the back. It is non-magnetic. The center has a Ship on it and looks like sports figures in the top left and top right of the piece. This is a bit bigger than a quarter by size comparison. The only other thing comes to mind, might be a zipper pull. Any help is appreciated. Thanks for looking, HH Art...

 

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[PBK]

Zipper pull.

 

[trk5capt]

Art, I Think it is a Little Too big for a Zipper Pull. It may be the suspended part of a Medal for a Sailing Club, or NAVY R.O.T.C. JOHN... 8)

 

[Southcacalaky]

Thanks John, it's still bugging me, Art...