Superman's belt buckle?

[Nick79]

Found this in the woods today. Any ideas? Looks like bullets on the side too.

 

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[Nick79]

Seen it a few times, many just like this.

Have you seen as suspenders? I'm wondering cause the design is horizontal but they would be vertical as suspenders. The 2 small pieces of leather lean me towards suspenders vs belt buckle

 

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[Oddjob]

I have not, but marching bands often had odd suspenders with deco buckles.

I tried searching the web for exactly this one, all I find are others like it but with other letters.

 

[just.neil]

Nice find. Congrats