Mysterious Round Pendant

[annaleighjewelry]

Just wondering if anyone can shed some light on this pendant. Looks like it is missing a jump ring or something on the bottom. I tried to find a maker on google but had no luck. It’s just such a weird shape and design, I wanted to get some background to it. 

thanks!!

 

[old.crows.nest]

It could have had a tassel? It is hard to know the history or reason for them.