What is this iron thing ?

Beshires1

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Location
Water Valley, Mississippi
Detector(s) used
Several home built detectors, a Garrett Money Hunter TR, and a Whites Prizim IV, Whites Coinmaster GT
Primary Interest:
All Treasure Hunting
I found this at a old house site where I have found very old pieces before. House was removed in 1955 so exact date of houses age is really unknown. There are stone foundation piers and reminants of a stone chimney. I'm leaning towards some type of horse/mule tac but I really am stumped on this one. Oh I carefully chipped off the rust crust and it moves from a folded position to a extended position. The smaller ring on one end broke off .
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looks like a trap.

but an odd one if it is.
 

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it might be a water valve for a cow drinking bowl .
 

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Too elaborate for that.
 

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I was told today at work that it is a old leather horse collar buckle/latch. I will try to confirm this.....
 

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After searching, every possible idea I still come up with nothing!
 

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It does resemble a horse collar buckle but im not sure.
 

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