I can't find anything about them having bracelets or pins. Has anyone seen this before?

Is that a pin, a ring, or a bracelet? Also are there any other markings on it?

I was told its a Rickenbacker bracelet. This is the only marking I can find on it.

Isn't Rickenbacker a guitar maker?


But I think the answer is connected with this:-


Edward Vernon Rickenbacker (October 8, 1890 – July 27, 1973) was an American fighter ace in World War I and Medal of Honor recipient. He was also a race car driver and automotive designer, a government consultant in military matters and a pioneer in air transportation. During his lifetime, Rickenbacker worked with many influential civilian and military leaders. He had keen insight into technology, and vision for future improvements. Among other events, he participated in or observed Armistice Day on the Western Front.


FIGHTING THE FLYING CIRCUS
BY EDDIE RICKENBACKER

This on-line edition of Eddie Rickenbacker's World War One memoirs dates from the original version published by Stokes in 1919. Captain Rickenbacker, originally from Ohio, was best known as one of the Commanders of the 94th "Hat-in-the-Ring" Squadron, a crack unit of pilots which included many former members of the famed Lafayette Escadrille. The 94th ended the war in France with the highest number of air victories of any American squadron. Captain Rickenbacker later belonged to an association of pilots and Great War air veterans who, in the years immediately following the Second World War, invited many of the new "young" aces from the Pacific and European theaters for informal lectures. These men never lost their keen interest in aviation.