That wheel could have been used on any number of applications. Just do a web search for images of antique metal wheels, or antique cart. It's just a cool wall hanger.
Thanks everyone. The photos are just from a different angle, but they are the same on both sides. The hole in the center of the wheel is not threaded or Keyed, so I'm guessing not a heavy mechanical item. Probably from a toy. I also found a harmonica reed a while back in the same area.