Corey Anne,
Several years ago I had a relative go to Israel and bring back a trinket for me.  It was called the "evil eye".  It was round and blue and made from glass.  Years later after becoming a Christian, I researched the item and decided to rid my house of the object.  It has something to do with being hung by the door to "ward off" evil spirits.  I am thinking that this could be what is on the item that you have.  My family member said that these "evil eyes"  are everywhere in the Holy Land.   You can google it to see for yourself.  I hope this helps.
Deborah W.