A fun entertainment of finding the prize buried in a box of Cracker Jacks.  What kid didn't like the treat as well as the surprise.  Some could be worn and others played with.  Surely many were stored away in trinket boxes.  Undoubtedly, this 1920s black metal cat was such.   The cat, sitting on its hunches, is a collar stud so could have been worn on a child's outfit. 

It is 5/8" long x 3/8" long.  Condition is good.