Interesting piece, @ctinamarie ! It looks like a National Defense medal that has had the ribbon suspension eyelet filed off. Someone may have wanted to turn a medal into a pocket token as a keepsake of a deceased loved one.
Mine is buried in a box some place, Everybody breathing and in the military since It is the dangle of the full size medal. They are sold at every exchange the ribbons are in a small box and sold for .50 at each register. Ike in 1953. The medal was first intended to be a "blanket campaign medal" awarded to service members who served honorably during a designated time period of which a "national emergency" had been declared during a time of war or conflict. It may also be issued to active military members for any other period that the Secretary of Defense designates.