If it's a coin I think it's from one of the Indian princely states. There are a lot of different states and I'm not an expert so I couldn't say for sure. You should post it under the world coin forum and someone will probably ID it right away.
Indian Princely State Gwalior One Quarter Anna Coin in the name of Madho Rao II dated Samvat Year 1954 (AD 1897)