Dont know FOR SURE, but I'd say its a fob, surely. Normally these were worn with a pocket watch or, as in your case, on a chain as a neck hanging pendant.
That's probably Grover Cleveland or some other pro-Union candidate from the late 19th century period. Labor unions were a hotly contested issue back then and you would show your support for your favored candidate by wearing that thing around your neck on a chain. I have found several similar items, my favorite being a pair of "Roosevelt / President" suspender waistband latches.
People were VERY politic in those days, unlike now. They took it seriously and very personally and everyone had an opinion. No one missed the chance to vote - then gather around for the results at the nearest park, pub, dance or meeting hall. A large chalkboard was set up and a boy would run back and forth between the nearest telegraph and the proceedings. When he would arrive, panting and out of breath, the latest tally would be written on the board and a cheer (or boo) would go up from the crowd, depending on the news.
Beer was often sold at 5 cents a glass, too, at such events. I have some old newspaper articles telling of just such happenings here in my town.
