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Commemorative pendants and fobs were favored promotional items in the mid-20th century, often given out by businesses to mark anniversaries or special events. These items served as a tangible reminder of the company and its history. They were frequently made of base metals or plated materials, though various higher-end versions could be found in sterling silver or even gold.

This particular pendant appears to commemorate the 50th anniversary of C.L. Meyers & Co. Yarns, spanning from 1917 to 1967. The use of a beaded edge and basic engraving suggests a focus on affordability and mass production. While not inherently valuable in terms of precious metals, such items can hold nostalgic appeal for those connected to the company or the yarn industry during that era.