I found a very similar pair of cufflinks a few weeks ago. Mine spelled Talio different (Tallio) and also had a fox on them. But they were linked together,, yours has a different construction.
Came across a few posts during my research that might provide some insight into the age. Although all the ones I came across looked like mine, not yours. I came to the conclusion mine were likely late 1700s early 1800s based on the age of the site.
I don't think it's a cuff link. It is way to narrow to fit multiple layers of fabric in between. Possibly a leather rivet for a saddle or other horse equipment.
Do you suppose that "Tallio" might mean something like, "Tally Ho, the merry fox." Of course if you were chasing a fox in Texas it would be more like, ?"Hey all y'all, yonder goes that red azzed blankety blankety blank."