From the movie Mad Max: Fury Road, this badge is inspired by and resembles the medals worn by the film's main antagonist, Immortan Joe. This is designed to pair with the "500" badge and sits at the top of the ribbon, while the badge itself rests at the bottom of the ribbon. I want to say it looks like some kind of repurposed belt hook or suspender, but I honestly have no idea what the part it's based on is from. Still, some screen accuracy where it counts!