Scarf Ring or Other

Hi,
I am new here and am interested in finding out if this is a scarf ring or other. It's heavy. I found the large Chef ring at an Estate Sale. A neighbor said the couple use to own, I believe he said Shakey's Pizza or another famous pizza Franchise years ago. The couple moved to a skilled facility so I believe they are in their late 70's. I thought maybe it could of been part of a work uniform, but all I see online are either stripe dress shirts to red polo shirts. There are no markings and only as seen in my picture an adjustable ring. It's in perfect new condition, even the blue enamel paint. No scratches, etc. Any ideas of what this is or where it came from?
Thank you!