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This object is a vintage cast iron Shriners (Ancient Arabic Order of the Nobles of the Mystic Shrine) fraternal emblem.
The back reveals this piece to be an antique commemorative convention medallion from the 1916 Shriners Imperial Council Session. The incised letters read "RAJAH TEMPLE" across the crescent, "BUFFALO" across the bottom, and "1916" stamped in the center of the star.
This specific piece was made for members of the Rajah Shriners (based out of Reading, Pennsylvania) to wear or display during the massive national Shriners convention held in Buffalo, New York, in 1916. The top loop indicates it originally functioned as a suspended watch fob, a ribbon badge component, or a commemorative medallion.
Material Confirmation: The gritty surface texture, green oxidized patina, and hollowed relief are highly typical of cast iron or copper-plated cast iron from the early 20th century. The piece is attracted to magnets.