Beaded Applique - circa 1950s?

LARGE HAND BEADED 'NATIVE AMERICAN STYLE' DECORATIVE PIECE
I need help identifying this piece. It measures 8 1/2" diameter and originally I thought it was a Japanese hand beaded decorative disc in a 'NATIVE AMERICAN STYLE pattern having a glass bead turquoise colored pot with a white design on the front, a necklace draped over it and a yellow peace pipe, all on a black glass bead background with an opaque glass beaded trim. I believe it is on a round flexible leather disc with a Japanese floral fabric backing. I'm not sure exactly what this would actually have been used for. Maybe a centerpiece or an appliqué for clothes or something?
I recently remember that several years ago I think someone told me that they thought that it was a Chinese money bag and Chinese symbol on the front of it. Anyway, I would be most appreciative if anyone out there recognizes it or can help me identify what is is, what it is used for and perhaps it's origin. I thought it may have been from the 1950's or 60's.