This bracelet was probably made to wear with a Breton necklet.
Breton necklets were highly fashionable in Britain in the early 1870s. Like necklaces throughout France, they consisted of a black velvet ribbon with a gilt cross. Unlike those worn in other areas, in Brittany the cross and slide were sewn onto the black velvet ribbon, rather than threaded on it. This meant that the ribbon always remained flat, and was therefore open to further decoration. Breton women decorated their ribbons with gilt appliqués in all kinds of shapes, such as stars, flowers, doves, hearts and angel's heads.
The V&A bought traditional jewellery from many European countries for the International Exhibition in London in 1872, including a Breton necklet and this bracelet (originally one of a pair). The bracelets cost £1 12s 6d the pair, and were described as coming from Macon in Burgundy. It is unlikely that wristlets like this were ever part of traditional costume in either Burgundy or Brittany. Most likely they were created to match the fashionable Breton necklace.