LOL! That's a come-apart key fob (for leaving your car key with a valet and pocketing your other keys). They sell them for a buck at almost every drugstore around here.
What the thins is supposed to do is to connect both ends of a neckstrap together and hook the strap to one of the strap lugs. http://www.leicagoodies.com/lehook.jpeg
And yes, it's a "key-chain thingy", but much more sturdy than anything I've seen.
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