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I'm not finding anything to match it, but I do know it's not official military. Looks to be the flags of the allied nations of WW1 and is probably a civilian patriotic pin. (I say pin see no broken hanger attachment loop, and don't know what the back looks like )
Those flags represent the principal participants on the side of the Entente during WWI (and yes, Japan climbed in on ‘our’ side within a month of the war commencing… largely in the hope of making territorial gains).
At the opening of WWI the balance of power in Europe was divided between the “Triple Entente” (Britain, France, and Russia) and the “Triple Alliance” (Germany, Austria-Hungary, and Italy).
When the conflict started, the Entente powers were joined by Italy (who switched allegiance), Romania, Japan and finally the United States plus associated members including (at various times): Armenia, Belgium, Brazil, China, Costa Rica, Cuba, Greece, Guatemala, Haiti, Honduras, Montenegro, Nicaragua, Portugal, Panama, Serbia and Siam among others.