I'm pretty sure this item was used as a watch fob. It came from a Utah estate, found with the football award charm and Brigham Young University Invitational award medal attached as shown, along with a broken 1930s pocket watch. The fob is 19-1/4" long end to end and has a pale blue stone mounted to the slide - possibly agate, onyx, or moonstone.

The solid brass and blue enamel pendant medal is 1-1/2" diameter, engraved on the back "1941 Junior College 100 Yard". The 1 inch football charm is engraved "Ray Freeman 35-37" and the letter C for Captain. The last picture shows a 1935 track and field award ribbon, found wrapped around the chain. The ribbon is wrinkled, the other items are all in very good condition with no issues.