Tom, unfortunately my friend and I do not know, museum staff also.
Maybe someone who served in the Air Force US or the CIA will help clarify what it is.
In my opinion, this keychain, true, a little strange.

Thanks desert. I'll bet Ronnie will know the answer.

Ha Tom you place too much faith in ole Ron! It isn't military issue whatever it is. However that said it appears, to me at least, to be some type of watch fob.
Btw Tom I'll let you in on a secret that John Gibson and I know. In a few days, Feb. 26-March 1, is the OVMS (Ohio Valley Military Society) annual Show of Shows Militaria Show. 2000 tables of some of the neatest stuff you will ever see and most of it will be for sale. The thing is there are lots of old Randall's there. Specifically military Randall's. Many documented knives. Also if you like the SOG knives there will be a lot of those there. You are not that far from Louisville so you ought to work in a trip. I purchased my Tenite 15 there many years ago now. I do see a couple of fellows at this show that I see at the Blade Show. So it really isn't that big of a secret. Anyway think about it.

I believe Ronnie may be correct regarding the chain. If you do a "3-strand pocket watch chain" search, the first image that comes up is quite similar...

Ronnie,

Thanks for the information on the military show. Sounds like a neat event. I'll keep it in mind.

Ronnie and Bob,

I'm not so sure that chain is for a pocket watch. Those large clips don't look like they would accommodate a watch in anyway. They look very specific for something.

The chain might be the safety locks for aircraft destruct system. oldguy

That sounds like a closer possibility, oldguy.

I thought about that old guy. Cause those clips look like they clip onto a round knob of sorts. Maybe something clipped on then had to be removed to activate the knob. Or it's a watch fob of sorts......

I picked up this little "number" at the Fayetteville Gun Show a few weeks ago.

Westinghouse "Old Yeller" ivory Micarta scrimshawed by Bruce Paxton in 1987. Stainless steel, nickel-silver hilt, duraluminum crows-beak butt cap.

Very nice, Buck. I like it!

- - Buckspen