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I’ve done an immense amount of research on this piece since I’ve found it and I’m in utter shock that it’s fallen into my hands. I found it in this little case. I’m not sure what the connection is, but it’s dated to be as old as the pendant.
This is an incredibly rare miniature gold and enamel military decoration issued by the short-lived Napoleonic Kingdom of Naples under the rule of King Joachim Murat (1808–1815)
The abbreviation "ONO. FED." stands for "Onore e Fedeltà" (Honor and Fidelity)
The central text is surrounded by a golden laurel wreath. Directly behind the wreath are two crossed flags accented with enamel detailing.
Resting at the top is an intricate, fully detailed royal crown featuring a tiny cross, which connects directly to the gold suspension loop used to fasten it to a uniform or ribbon.
This particular insignia represents an order founded by Joachim Murat, who was Napoleon Bonaparte's brother-in-law and a legendary cavalry general.