This is called an “f-shaped paneled bit” that was placed inside a horse’s mouth to help guide the horse. This style of bit was used in an older type of Japanese horse harnesses. One end of the decorative panels tapers to a point like a bird’s beak while the opposite side is curved, creating a shape that resembles a lowercase f. The main section of the bit is made of iron decorated with bronze gilt. The metal fittings are held in place by silver-coated fasteners.