Recent finds... can anyone ID?

[DougsGraphics]

It's been a while since I posted, but thought I would put up some of my more recent finds. One of these items is a mystery to me. Anyone know what it is? I'm questioning the eliptical object with the lettering and a hole at one end. The other fun items are a couple Roosevelt silver dimes, a monogrammed silver ring and a copper/silver ring with some fine detailing, a silver earring, a silver Presbyterian charm, some wheaties, and a local dog tag dated "to July 1959". The four British coins were a surprise pocket dump I found this afternoon at a local soccer field! Anyway, if anyone can give me some insight on the eliptical item, I would appreciate. I'm thinking some sort of martial arts paraphenalia?

Great hunting all!