I believe it's a hair barrette. The bottom part - the clasp - was threaded through the hair to anchor it in place, and hair from above the barrette was threaded through the top ornamental barrel section. Early barrette designs were made with this kind of two-tine hinged fork. The ends were typically blunt like yours, rather than pointed.
As for age - ornamental die stamping of metal started during the late 19th century - by the 1860s - according to my timeline notes, but I believe barrettes became popular a few decades later probably by the 1920s - 1940s. I hope this helps.
