Fabricated silver. Just over an inch long.
Here’s how it functions for me, although, any number of things could be suspended from it. The idea is based on a medieval practice. At that time they primarily were used to hang purses (in lieu of pockets). When wearing a waistcoat the button holes provide the means to anchor a pocket watch chain. This belt hanger will work when there are no serviceable buttons available.
Detail in which the rivet and decorative ring are very visible.