Purely speculation, but it may be a dove in flight, seen from above.
It may be a love token, as the dove is a symbol of (unspoken) love, as embodied by
Astarte (Ishtar, Astoreth). An old-fashioned frenchman may still call the love of his life
ma colombe - my dove.
Another possibility is religious. There is a dove in flight hanging from the
Huguenot cross. A dove in flight is also used as a symbol for the
holy spirit. Your piece may have given access to local or controversial church services.
A more Indian explanation is the bird in flight as the soul. Garuda can play this role. In China, the dove (鴿, ko) is seen as a symbol of matrimonial care and motherhood, which opens the possibility that the piece was used as a fertility amulet. Since the piece is not pierced, this option may be less likely.
Peter
