I am not so sure about family crest--if it was, both the dragons (almost look like carniverous sea horses) would both be oriented the same way, not opposite. I think the animals on the sides of the crests were actually there to make it appear that it is being "held" upright by them.
It's a Victorian 'dragon' brooch, and the center held some type of stone or cameo. Dragons were popular during the Vic. times, and they were a symbol of good defeating evil. Often there were winged dragons symbolizing freedom. Nice find, Breezie