This keychain is an item that was mis-sewn or a mistake.  I had a friend who worked as a sewer and she gave them to me.  It has been at many flea markets so the metal ring has been exposed to all kinds of weather and might have to be replaced due to some rusting.  I have had them since 2008 and didn't set them out as my inventory all the time.  Basically they are new never used.  

The keychain measures 4 1/2 inches long x 1 1/2 inches wide.  

See photos as they are part of my descriptions.