It's made of tortiseshell (I think) and it came wrapped with some beads around it from the Goodwill (I wanted the beads, and at 49 cents it was a good deal). It could be some Regretsy thing, but it has the look of some useful object repurposed as jewelry...like maybe a weaving shuttle? The holes are a little too large and set too far apart to be finger holes, unless you are a really big guy and needed a Really Big Guitar pick. (It's about 3 inches across the long way.)
LOL, maybe it's just a hair holder missing it's stick.